Hero Solar Energy, JSW Among Winners in SECI's Auction for 1.5 GW Dispatchable RE
Hero Future Energies emerged as a key player in the allocation, securing 120 MW of capacity by bidding the lowest tariff of INR 5.59/kWh.
March 13, 2024. By Abha Rustagi
Hero Future Energies emerged as a key player in the allocation, securing 120 MW of capacity by bidding the lowest tariff of INR 5.59/kWh. JSW Neo Energy, Serentica Renewables, and ReNew Solar Power also secured capacities of 180 MW, 100 MW, and 80 MW, respectively, each at INR 5.6/kWh.
The successful developers will construct renewable energy projects incorporating energy storage systems, guaranteeing the provision of reliable and dispatchable renewable energy in alignment with demand fluctuations. These projects can be situated anywhere in India and are required to connect to the interstate transmission grid.
The projects will be developed on a build-own-operate (BOO) basis, with SECI entering into a 25-year power purchase agreement (PPA) with the successful bidders. The power procured by SECI from these projects is slated to be sold to Punjab State Power Corporation Ltd. and Madhya Pradesh Power Management Co. Ltd.
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