In the auction held by the Solar Energy Corporation of India (SECI) to establish 2 GW of interstate transmission system (ISTS)-connected solar projects (Tranche XI), six developers were declared the winners. At Rs 2.60 per kWh, ReNew Power and Sukhbir Agro Energy Limited each bagged 600 MW of capacity. At the same tariff, Shiva Corporation India Limited, Jakson Group and Eden Renewables won 100 MW, 200 MW and 300 MW, respectively. Meanwhile, Avaada Energy won 200 MW capacity at a tariff of Rs 2.61 per kWh.
The projects are going to be implemented on a build-own-operate basis. The project’s tender was released in March 2023. The developers are expected to commission the entire project within 18 months of the power purchase agreement’s (PPA’s) effective date. The winning bidders and the SECI will sign a 25-year PPA.
The winning bidders must adhere to the applicable grid code, grid connectivity standards, and other rules and procedures for grid interconnection and metering that have been published by the relevant commissions and the Central Electricity Authority.