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					</table><p>Nagpur-headquartered <a href="https://sunflagsteel.com/" target="_blank" rel="noopener">Sunflag Iron and Steel</a> will procure power from an 11 MW solar project being set up by <a href="https://sunsure-energy.com/" target="_blank" rel="noopener">Sunsure Energy</a>’s special purpose vehicle Sunsire Solarpark Thirty Seven in Dhule, Maharashtra.</p>
<p>The two companies entered into a long-term power purchase agreement which will enable Sunflag Iron and Steel to source solar power from the under-construction project in captive mode for 25 years.</p>
<p>Sunflag has also executed a share subscription and shareholders’ agreement with Sunsure Energy to invest ₹57.25 million (~$668,085) to acquire and maintain a 26% equity stake in the power producer.</p>
<p>The subscription to the equity shares will occur in tranches.</p>
<p>Regulatory approvals are not applicable for this arrangement.</p>
<p>Sunsure Solarpark Thirty Seven develops, constructs, operates, and maintains power projects in India.</p>
<p>As part of its ESG goals, Sunflag has been entering into agreements with renewable energy companies to meet its power needs and reduce its carbon footprint. In 2023, Sunflag entered into long-term power delivery agreements with ReNew Power’s three special purpose vehicles by acquiring a 31.2% stake each to source 71.34 MW of solar power for 15 years, extendable up to 25 years.</p>
<p>Several companies in the hard-to-abate steel industry are transitioning to renewable energy to bring down emissions and be globally competitive. The emissions intensity of steel produced in India is 2.54 tons of CO2/ ton, significantly higher than the global average of 1.91. The steel industry accounts for 10-12% of India’s total emissions.</p>
<p>The Indian steel sector’s decarbonization efforts have acquired more urgency in the wake of the European Union’s Carbon Border Adjustment Mechanism (CBAM), which seeks to put a ‘fair price’ on the carbon emitted during the production of carbon-intensive goods entering the EU and encourage cleaner industrial production in non-EU countries.</p>
<p>The transitional phase of CBAM, which started on October 1, 2023, will <a href="https://www.mercomindia.com/eu-adopts-rules-governing-carbon-tariff-measure" target="_blank" rel="noopener">continue</a> until the end of 2025.</p>
<p>Recently, Jindal Stainless’s subsidiary, JSL Super Steel, <a href="https://www.mercomindia.com/jsl-super-steel-to-procure-11-mw-solar-power-from-sunsures-project" target="_blank" rel="noopener">announced</a> it will procure 11 MW of power from Sunsure Energy’s 49 MW solar project in Augasi, Uttar Pradesh. The company said this agreement will help it meet 40% of its energy needs through clean power.</p>



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					</table><p><a href="https://www.jindalstainless.com/" target="_blank" rel="noopener">Jindal Stainless</a>’s subsidiary, JSL Super Steel, has announced it will procure 11 MW of power from <a href="https://sunsure-energy.com/" target="_blank" rel="noopener">Sunsure Energy</a>’s 49 MW solar power project in Augasi, Uttar Pradesh.</p>
<p>JSL Super Steel signed a power purchase agreement with Sunsure Energy worth nearly ₹40 million (~$464,889) to receive 16.5 million units (MU) of power annually. The company said this agreement will help it meet 40% of its energy needs through clean power.</p>
<p>Jagmohan Sood, COO, Jindal Stainless, said, “This deal is part of Jindal Stainless’s short-term goal of reducing 50% carbon emissions by 2035.” The company aims to reach net-zero emissions by 2050.</p>
<p>Over the next five years, the company plans to invest ₹7 billion (~$81.3 million) in various decarbonization projects.</p>
<p>Per Jindal Stainless’s annual report 2023-24, the company sourced 200,194 J of its energy needs from renewable sources during the year. I</p>
<p>Jindal Stainless said it also commissioned a 7.3 MW floating solar project on a water reservoir in Jajpur and a 6.54 MW rooftop solar project at its Hisar unit.</p>
<p>The company has signed a memorandum of understanding (MoU) with renewable energy company Oyster for a wind-solar hybrid renewable project at Hisar for 100 MW of renewable energy. It also signed an MoU with ReNew Power for a 100 MW round-the-clock renewable energy supply for its Jajpur facility.</p>
<p>Additionally, the company plans to install 18.5 MW rooftop solar projects for its multiple entities across different locations.</p>
<p>In September 2024, Jindal Steel and Power (JSP) and Jindal Renewables <a href="https://www.mercomindia.com/jindal-to-develop-green-hydrogen-facility-for-use-in-its-steelworks" target="_blank" rel="noopener">announced </a>they would invest in green hydrogen production for steelmaking in Angul, Odisha.</p>
<p>In February 2024, JSP <a href="https://www.mercomindia.com/jindal-commissions-solar-project-at-odisha-steel-mill" target="_blank" rel="noopener">commissioned</a> a 15 MW rooftop solar project at its steel manufacturing plant in Angul, Odisha.</p>


JSL Super Steel to Procure 11 MW Solar Power from Sunsure’s Project


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					</table><p>JSW Neo Energy (<a href="https://www.jsw.in/energy" target="_blank" rel="noopener">JSW Energy</a>), Sunsure Solarpark Fourteen (<a href="https://sunsure-energy.com/" target="_blank" rel="noopener">Sunsure Energy</a>), Tejorupa Renewables India Project (<a href="https://www.upcrenewables.com/" target="_blank" rel="noopener">UPC Renewables</a>), and <a href="https://ntpcrel.co.in/" target="_blank" rel="noopener">NTPC Renewable Energy</a> were declared winners in the Solar Energy Corporation of India’s (<a href="https://www.seci.co.in/" target="_blank" rel="noopener">SECI</a>) auction to set up 1,500 MW Inter-State Transmission System (ISTS)-connected solar power projects in India under Tranche XIII.</p>
<p>JSW, Sunsure, and UPC Renewables quoted the lowest tariff of ₹2.56 (~$0.0310)/kWh to win 700 MW, 300 MW, and 250 MW, respectively.</p>
<p>NTPC Renewable won 250 MW out of the 600 MW quoted capacity at ₹2.57 (~$0.0311)/kWh.</p>
<p>The other participants were Jade Hybren (Mahindra), Datta Power Infra, ReNew Solar Power, Solarcraft Power India 8 (BluPine Energy), TEQ Green Power XXI (O2 Power) and Apraava Energy.</p>
<p><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-64140" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/SECI-Tranche-XIII-1.5-GW-ISTS-Solar-Auction.png" alt="SECI Tranche XIII 1.5 GW ISTS Solar Auction" width="782" height="302" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/SECI-Tranche-XIII-1.5-GW-ISTS-Solar-Auction.png 782w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/SECI-Tranche-XIII-1.5-GW-ISTS-Solar-Auction-300x116.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/SECI-Tranche-XIII-1.5-GW-ISTS-Solar-Auction-768x297.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/SECI-Tranche-XIII-1.5-GW-ISTS-Solar-Auction-650x251.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/SECI-Tranche-XIII-1.5-GW-ISTS-Solar-Auction-624x241.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/SECI-Tranche-XIII-1.5-GW-ISTS-Solar-Auction-600x232.png 600w" sizes="(max-width: 782px) 100vw, 782px" /></p>
<p>SECI had <a href="https://www.mercomindia.com/seci-invites-bids-for-connected-solar-project" target="_blank" rel="noopener">floated</a> the tender for the projects in December 2023.</p>
<p>The selected developers are free to choose the location for the projects and must ensure that they are connected to the ISTS, encompassing the transmission network extending up to the interconnection/delivery point.</p>
<p>The scope of work will also include identifying suitable land, installing and owning the project, and securing connectivity and requisite approvals for interconnection with the ISTS network/State Transmission Utility (STU) or intra-state transmission system (InSTS) network, as applicable, to supply power to SECI.</p>
<p>The developer may locate the project in the same state as the buying entity for STU interconnection.</p>
<p>If the buying entity is situated in the same state as the project, the project developer may opt to interconnect the project at the STU or InSTS substation, adhering to the minimum voltage level as per the applicable state regulations.</p>
<p>SECI has mandated that the stated or adjusted annual Capacity Utilization Factor (CUF) of the projects must not fall below 17%.</p>
<p>The developer must attain an annual CUF within the range of +10% and -15% of the declared value throughout the initial ten years. This is contingent upon maintaining a minimum annual CUF of 15%.</p>
<p>Subsequently, from the 11th year until the conclusion of the power purchase agreement term of 25 years, the annual CUF should be within +10% and -20% of the declared value.</p>
<p>In January 2024, SECI <a href="https://www.mercomindia.com/seci-tender-1-5-gw-ists-solar" target="_blank" rel="noopener">invited</a> bids to set up 1,500 MW ISTS-connected solar power projects in India under Tranche XIV.</p>
<p>Subscribe to Mercom’s <a href="https://www.mercomindia.com/product/india-solar-tender-tracker" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of tender and auction activity in real time.</p>


JSW, Sunsure, UPC and NTPC REL Win SECI’s 1.5 GW Solar Tranche XIII Auction

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