The Central Electricity Regulatory Commission (CERC) has approved tariffs of ₹3.25 (~$0.037)/kWh and ₹3.26 (~$0.038)/kWh for Solar Energy Corporation of India’s (SECI) 600 MW interstate transmission system-connected wind-solar hybrid power projects (Tranche IX).

CERC, however, refused to award a trading margin of ₹0.07 (~$0.008)/kWh. It stated that since the awarded capacity had not yet been tied up, the trading margin would be determined according to the power sale agreement (PSA) that would be signed between SECI and the distribution licensees.

Background

SECI floated a tender to select bidders for 400 MW ISTS-connected wind-solar hybrid power projects under Tranche-IX. The capacity was later enhanced to 600 MW.

It received bids for an aggregate capacity of 810 MW from four bidders.

SECI awarded a total capacity of 600 MW of wind-solar hybrid power projects to the eligible bidders.

Juniper Green Energy was awarded 150 MW at a tariff of ₹3.25 (~$0.037)/kWh, Acme Solar Holdings 300 MW at ₹3.25 (~$0.037)/kWh, and Sembcorp Green Infra 150 MW at ₹3.26 (~$0.038)/kWh.

SECI petitioned the Commission for approval of these tariffs.

It also requested the Commission to approve a trading margin of ₹0.07 (~$0.0008)/kWh.

Commission’s Analysis

The Commission observed that the tariff discovered for the 600 MW auction was higher than the tariffs of ₹3.15 (~$0.036)/kWh and ₹3.21 (~$0.037)/kWh awarded by SECI for the 900 MW wind-solar hybrid power projects (Tranche VII).

It, however, approved the tariffs for which SECI sought approval.

The Commission directed SECI to inform it when the awarded capacity is committed through power purchase agreements (PPA). It stated that SECI must also notify it in the event of failure to sign the PPAs and PSAs.

CERC stated that the trading margin would be determined in accordance with the terms of the PPA and PSA. If SECI fails to provide an escrow arrangement or an irrevocable, unconditional, and revolving letter of credit to the hybrid power generators, the trading margin would be limited to ₹0.02 (~$0.0002)/kWh.

The Commission also condoned the delay in filing the petition, holding that it was not deliberate.

In February 2025, CERC approved SECI’s petition to adopt a tariff ranging between ₹4.64 (~$0.053) and ₹4.73(~$0.054)/kWh for its 1,200 MW wind-solar hybrid power projects. The Commission also approved a trading margin of ₹0.07 (~$0.008)/kWh.

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