Adani, ABC, AMP Win in SECI’s 1200 MW Hybrid Tender with Lowest Tariff of Rs 2.41/kWh

Few days after Rs 1.99/kWh record tariff for solar, state-owned Solar Energy Corporation of India (SECI) has discovered a new record low tariff of Rs 2.41/kWh for any renewable energy hybrid project.

December 23, 2020. By Manu Tayal

Few days after Rs 1.99/kWh record tariff for solar, state-owned Solar Energy Corporation of India (SECI) has discovered a new record low tariff of Rs 2.41/kWh for any renewable energy hybrid project.

In SECI’s auction for setting up of 1200 MW ISTS-connected wind-solar hybrid power projects in India (Tranche-III), ABC Renewable Energy Pvt Ltd, an arm of Axis Energy, Adani Renewable Energy Holding Eight Ltd, and AMP Energy Green Pvt Ltd emerged as winners.

Under this tariff-based competitive bidding, the three companies namely ABC Renewable Energy Pvt Ltd, Adani Renewable Energy Holding Eight Ltd, and AMP Energy Green Pvt Ltd had quoted a lowest tariff of Rs 2.41/kWh for capacity of 380 MW, 600 MW and 130 MW respectively. While, ACME Solar Holdings Pvt Ltd had won 90 MW of capacity out of 300 MW of applied capacity at the rate of Rs 2.42/kWh tariff.

In the auction total ten companies had applied for 3,310 MW of capacity and oversubscribed by 2,110 MW.

The remaining bidders include – O2 Power SG Pte Ltd, NLC India Ltd, Sprng Ujjvala Energy Pvt Ltd, ReNew Solar Power Pvt Ltd, Azure Power India Pvt Ltd, and Green Infra Wind Energy Ltd.

In January 2020, SECI issued RfS for selection of hybrid renewable energy developers for setting up of 1200 MW ISTS-connected wind-solar hybrid power projects in India on Build Own Operate (BOO) basis. Now, SECI will enter into a 25 year PPA with selected bidders. As per the RfS, the power procured from this project will be sold to those buying entities and bulk consumers which require wind-solar hybrid power to fulfil their solar and non-solar RPO under respective RPO regulations.

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