SECI Announces Winners of 1,200 MW Solar Plus Storage Auction

The Solar Energy Corporation of India (SECI) has revealed the results for its Tranche XV auction aimed at developing 1,200 MW of inter-state transmission system (ISTS)-connected solar projects integrated with a 600 MW/1,200 MWh energy storage system (ESS).

The auction attracted highly competitive bids, with tariffs reaching as low as INR 3.41/kWh. Pace Digitek Infra secured the lowest bid, winning a 100 MW project at INR 3.41/kWh. JSW Neo Energy clinched 500 MW at INR 3.42/kWh, although this was slightly lower than their initial bid for 600 MW. ACME Solar Holdings and Hero Solar Energy each won contracts for 350 MW and 250 MW respectively, both at INR 3.42/kWh.
 

Noteworthy industry players such as NTPC REL, Solarcraft, Rays Power Infra, and ReNew Solar Power participated but did not secure any capacity due to their higher quoted tariffs compared to the winning bids. Despite their established market presence, they faced intense competition from other bidders with more competitive pricing.

The results demonstrate the cost-effectiveness of integrating BESS with solar projects, marking a significant milestone in the renewable energy landscape. The close bidding reflects the evolving dynamics of India’s solar energy market, driven by technological advancements and economies of scale.

This breakthrough in achieving low-cost energy storage has significant implications for future investments in both peak and baseload power, reinforcing India’s position as a leader in the global renewable energy sector.