Results for the Solar Energy Corporation of India’s (SECI) Tranche XVI auction to develop 1.2 GW of inter-state transmission system (ISTS) connected solar projects located across India have been announced. The projects will be set up on a build, own and operate basis. The tender was issued in May 2024.
Sustainable and Affordable Energy for Life (SAEL) Industries Limited and NTPC won 250 MW and 200 MW respectively by quoting Rs 2.48 per kWh of tariff. Blupine Energy quoted a tariff of Rs 2.49 per kWh and won 50 MW. Of the total capacity, only 500 MW was auctioned.
SECI will sign power purchase agreements with the developers to procure solar power for a duration of 25 years.
The developers are required to set up solar plants (including the transmission network), identify land, install, obtain connectivity and approvals. For interconnection at the ISTS, the minimum voltage level stands at 220 kV. Furthermore, SECI has mandated the use of indigenously manufactured solar modules listed in the Approved List of Models and Manufacturers.
In July 2024, BluPine Energy had secured Rs 2.39 billion capital funding from Tata Capital Limited to set up a 75 MWp solar project in Chhattisgarh. In the same month, NTPC had issued a tender for 960 MW wind project, tranche III. In January 2024, SAEL had secured $1 billion of funding to increase their renewable energy portfolio.
