JSW, Sunsure, NTPC & Tejorupa Bag SECI’s 1500 MW Solar Tender

By Manish Kumar/ Updated On Tue, Apr 2nd, 2024

JSW, Sunsure, NTPC & Tejorupa Bag SECI’s 1500 MW Solar Tender

The Solar Energy Corporation of India (SECI) has now announced the results of its tender floated on March 29, 2023. SECI had floated the tender for a 1500 MW grid-connected Inter-State Transmission System (ISTS).

As per the results published by the SECI, JSW Neo Energy Limited, Sunsure Solarpark Fourteen Pvt Ltd, Tejorupa Renewable India Project Pvt Ltd (UPC Renewables) and NTPC Renewable Energy Limited bagged the project in the e-reverse auctions.

JSW Neo, Sunsure and Tejorupa Renewable emerged as the bidders with the lowest bid of Rs 2.56 per unit. SECI allocated 700 MW of the project to the firm. On the other hand, Sunsure received an allocation of 300 MW of the project.

At the same time, Tejorupa got the allotment for 250 MW of solar project from SECI through the tender. NTPC Renewable which bid for 600 MW and quoted Rs 2.57 as its tariff for the balance allotment of 250 MW of the project.

During the financial bid opening, SECI picked 11 qualified renewable firms, which included Jade Hybren, Datta Power, Solarcraft, Teq Green, Apraava Energy, ReNew, and Hinduja Renewable, among the winners. On the other hand, ten companies qualified for the e-reverse auction, but the final allocations were only for the four companies with the least quoted tariffs. The e-reverse auction was held on March 7, 2024.

As per SECI’s mandate under the tender, the solar power developers selected under the project would develop the projects under Build Own Operate (BOO) basis for an aggregate capacity of 1500 MW. The details of the tenders said the selected players would enter into a Power Purchase Agreement (PPA) with SECI. These PPAs are supposed to be signed for 25 years.

The SECI tender had demanded that the total capacity that could be awarded to any firm could be upto 750 MW. “Power procured by SECI from the above Projects has been provisioned to be sold to the different Buying Entities of India. The details of the buying entities shall be disclosed at a later date,” the tender document said.