SAEL Industries, NTPC Renewable Energy, and BluPine Energy were winners in Solar Energy Corporation of India’s (SECI) auction to set up 1.2 GW of interstate transmission system (ISTS)-connected solar power projects across India under Tranche XVI on a build, own, and operate basis.

SAEL and NTPC were awarded 250 and 200 MW respectively at a tariff of ₹2.48 (~$0.0295)/kWh.

Blupine Energy quoted a tariff of ₹2.49 (~$0.0297)/kWh to win 50 MW.

Only 500 MW of capacity was auctioned.

The tender was floated in May this year.

Successful bidders will sign 25-year power purchase agreements (PPA) with SECI to supply solar power at the quoted tariff.

The scope of work includes setting up the solar projects, including the transmission network up to the delivery point, identification of land, installation, ownership, and obtaining connectivity and approvals. The minimum voltage level for interconnection at the ISTS is 220 kV.

Only modules from the Ministry of New and Renewable Energy’s Approved List for Models and Manufacturers must be used.

Recently,  SECI invited bids to set up 2,000 MW ISTS-connected solar power projects with 1,000 MW/4,000 MWh energy storage systems in India under Tranche XVII.

Government-owned renewable energy agencies floated 10.7 GW of tenders in the second quarter (Q2) of 2024, down 65.2% from 30.7 GW in the previous quarter and 21.6% from 13.6 GW in the same quarter last year. SECI issued the highest tender capacity in the quarter, contributing 22.7% of the total.

Auction announcements fell 73.2% from 25.1 GW in Q1 2024 to 6.7 GW in Q2. The auction activity dropped marginally from the same quarter in 2023.

The annual bidding trajectory announced by the Ministry of New and Renewable Energy in April 2023 drove tender activity in the financial year 2023-24. The ministry mandated annual bid invitations for 50 GW of renewable energy projects by SECI, NHPC, NTPC, and SJVN between FY24 and FY28.

Subscribe to Mercom’s India Solar Tender Tracker for timely updates on all solar tenders issued by various agencies in India.