India wraps up 1.2 GW solar, storage tender at average price of $0.041/kWh

Solar Energy Corp. of India (SECI) has concluded a 1.2 GW solar and storage tender at an average price of $0.041/kWh, with Acme Solar Holdings, Hero Solar Energy, JSW Neo Energy, and Pace Digitek Infra emerging as winners.

Image: Avi Waxman, Unsplash

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From pv magazine India

SECI has concluded its latest tender for 1.2 GW of solar with 600 MW/1.2 GWh of storage capacity at a final average price of INR 3.42/kWh.

JSW Neo Energy secured the biggest amount of capacity, at 500 MW. Acme Solar Holdings secured 350 MW and Hero Solar Energy 250 MW. Pace Digitek Infra won 100 MW.

SECI launched a tender in March 2024 to set up 1.2 GW of PV projects with 600 MW/1,200 MWh of energy storage systems (ESS) on a build-own-operate basis. The projects can be located anywhere in India and must connect to the interstate transmission grid.

SECI will sign a 25-year power purchase agreement (PPA) with the successful bidders to buy solar power. It will then sell the procured power to various buying entities across India.

The solar power developer will install at least 0.5 MW/1 MWh of ESS capacity for each contracted 1 MW project under the PPA. The developer may own the ESS component or partner with a third party. The ESS can be co-located with the PV power generation or placed separately within a single project.

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