A total of four companies have won bids invited by SECI for the development of 1,200 MW of ISTS-connected solar power projects (Tranche III). These are ReNew Power, Azure Power, EDEN Renewable Cite and SBSR Power Cleantech Eleven (SoftBank). ReNew Solar, Azure Power and EDEN Renewable won bids for developing 300 MW of capacity each by quoting Rs 2.55 per kWh, Rs 2.58 per kWh and Rs 2.60 per kWh respectively. SBSR Power submitted bids to develop 600 MW of capacity at Rs 2.61 per kWh, but won bids to develop 300 MW of capacity only. SECI will sign a PPA with the successful bidders for a period of 25 years. The projects will be developed on a BOO basis.