SECI Awards 1,344 MW Pumped Storage Capacity To Greenko, Tata Power, And Torrent After Competitive Auction

The Solar Energy Corporation of India Limited (SECI) has announced the final results of its tender for developing Pumped Storage Plants (PSPs) under a tariff-based global competitive bidding process. The tender was floated through Request for Selection (RfS) No. SECI/C&P/IPP/15/0017/25-26, issued on December 26, 2025, with the objective of establishing 1,500 MW/12,000 MWh of pumped storage capacity across India. The initiative is expected to play a significant role in strengthening the country’s energy storage infrastructure and supporting the integration of renewable energy into the national grid.

Three companies participated in the bidding process, submitting proposals for a combined capacity of 1,680 MW. Greenko Energies Private Limited offered the highest proposed capacity of 720 MW, followed by The Tata Power Company Limited with 660 MW, while Torrent Energy Storage Solutions Private Limited bid for 300 MW.

After the techno-commercial evaluation, all three bidders qualified for the financial bid stage and were shortlisted for the electronic Reverse Auction (e-RA) in accordance with Clause 43 of the RfS. During the financial bid opening, Greenko quoted an Equivalent Total Storage Cost of INR 1,43,85,000.06 per MW per annum along with an Annual Fixed Charge of INR 1,16,95,122.00 per MW per annum. Torrent Energy Storage Solutions quoted INR 1,45,00,000.14 per MW per annum and an Annual Fixed Charge of INR 1,17,88,618.00 per MW per annum. Tata Power submitted a bid with a storage cost of INR 1,49,00,000.25 per MW per annum and Annual Fixed Charges of INR 1,19,57,307.00 per MW per annum.

Although the total capacity offered by the shortlisted bidders reached 1,680 MW, the maximum capacity available for award under the tender was limited to 1,344 MW. The electronic Reverse Auction was conducted on July 9, 2026, resulting in more competitive tariff discoveries.

Greenko Energies emerged as the largest winner, securing its entire quoted capacity of 720 MW at a final Equivalent Total Storage Cost of INR 1,34,90,000.00 per MW per annum, with Equivalent Annual Fixed Charges of INR 1,09,67,479.67 per MW per annum. Torrent Energy Storage Solutions also received its full allocation of 300 MW at a final storage cost of INR 1,35,00,000.00 per MW per annum and Equivalent Annual Fixed Charges of INR 1,09,75,609.76 per MW per annum.

The Tata Power Company was awarded a partial capacity of 324 MW against its original bid of 660 MW. Its final discovered storage cost stood at INR 1,35,10,000.00 per MW per annum, with Equivalent Annual Fixed Charges of INR 1,08,41,826.50 per MW per annum.

SECI officially concluded the bidding process by issuing Letters of Award (LoAs) to the successful developers on July 17, 2026. With the allocation of the full eligible capacity of 1,344 MW, the project marks another important step in expanding India’s long-duration energy storage capacity and supporting the country’s growing renewable energy ambitions.