SECI Awards 630 MW Renewable Energy Contracts to Leading Developers

JSW Neo Energy, Hero Solar Energy (Hero Future Energies), Vena Energy, Hexa Climate Solutions, and Serentica Renewables have secured significant capacities in Solar Corporation of India’s (SECI) latest auction. As a part of SECI’s FDRE Tranche IV, it is aiming to supply 630 MW of firm and dispatchable renewable energy (FDRE) from inter-state transmission system (ISTS)-connected projects across India.

SECI's fourth tender for selecting developers to supply firm and dispatchable power from renewable energy projects with energy storage systems resulted in a competitive tariff of INR 4.98 (USD 0.059) per kWh. Initially, SECI launched the tender to supply 1.26 GW of firm and dispatchable power. However, the tendered capacity was later reduced to 630 MW. 

JSW Neo Energy emerged as the largest winner, securing 230 MW. Hero Future Energies, Hexa Climate Solutions, Serentica Renewables, and Vena Energy each won 100 MW. The successful developers will establish renewable energy projects with integrated energy storage systems to ensure a cumulative supply of 630 MW of firm and dispatchable renewable energy, following demand patterns.

The FDRE model aims to achieve 100 percent round-the-clock renewable energy at an individual project level. These projects will be developed on a build-own-operate basis, adhering to the Central Electricity Regulatory Commission’s regulations for ISTS connectivity. Incorporating energy storage systems is a key feature of these projects, ensuring reliability and consistency in power supply. 

The lowest tariff discovered in this auction is approximately 16 percent lower than the tariff in the most recent FDRE auction by SECI and about 7 percent higher than the tariff in the FDRE auction conducted by NHPC. This reduction in tariff signifies a positive trend towards cost-effective renewable energy solutions.