Hero Future Energies (HFE) has signed a power purchase agreement (PPA) with the Solar Energy Corporation of India Limited (SECI) for a 270 MW solar power project integrated with an energy storage system (ESS). The project was awarded under SECI’s inter-state transmission system (ISTS) tranche XVII auction in December 2024, which had a total capacity of 2,000 MW of solar projects combined with 4 GWh of ESS projects. HFE secured the project at a tariff of Rs 3.52 per kWh.
The project will be developed on a build-own-operate basis. It is permitted to be located anywhere in India, with the condition that it connects to the ISTS. As per the tender requirements, each 1 MW of solar capacity must be supported by an ESS of at least 0.5 MW/2 MWh.
In April 2025, HFE signed a power purchase agreement with SJVN Limited to supply 120 MW of firm and dispatchable power from a renewable energy project with storage at a tariff of Rs 4.25 per kWh.
