SECI's 1200 MW Solar with 1200 MWh BESS tender, floated in March this year, turned up a surprise in terms of the price discovery of Rs 3.41 per unit from the winning bidder, Pace Digitek Infra Private Limited.
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Results for the Solar Energy Corporation of India''s (SECI) Tranche XV auction to develop 1,200 MW of inter-state transmission system (ISTS) connected solar projects with 600
SECI''s 1200 MW Solar with 1200 MWh BESS tender, floated in March this year, turned up a surprise in terms of the price discovery of Rs 3.41 per unit from the winning bidder, Pace Digitek Infra Private Limited.
This tariff was achieved in a tender by SJVN Ltd for a project that includes 1200 MW of solar power combined with 600 MW/2400 MWh of energy storage. This newly discovered tariff is approximately 5.8% lower than a similar tender auctioned by SECI in December 2024.
SECI will sign a 25-year power purchase agreement (PPA) with the successful bidders to buy solar power. It will then sell the procured power to various buying entities across India. The solar power developer will install at least 0.5 MW/1 MWh of ESS capacity for each contracted 1 MW project under the PPA.
Record-low ₹3.32/unit tariff set for solar + 4-hr energy storage projects in SJVN auction, 5.8% lower than SECI’s Dec 2024 rate.
The tariff discovery is the lowest ever for a Solar + Storage tender, especially one with ESS sizing of at least 0.5 or 600 MWh. Its testimony to the lower module prices seen in recent months as well as falling ESS prices, both of which are expected to remain low as the bidders move to the next stage.
SECI will sign power purchase agreement with the developers to procure solar power for a duration of 25 years. They are required to establish ISTS-connected solar power projects with ESS, along with the necessary transmission network up to the interconnection or delivery point, to supply solar power to SECI at their own expense.
The latest price matches the tariffs seen in recent wind-solar hybrid (WSH) auctions and falls well below those in standalone wind bids, JMK Research said. The report highlighted the growing shift toward integrating energy storage with solar generation.
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