The Solar Energy Corporation of India (SECI) has announced the winners of its 1,500 MW/12,000 MWh pumped storage projects (PSP) auction. The tender was floated in December 2025. Of the total tendered capacity, 1,344 MW has been awarded.
Greenko Energies Private Limited secured the largest share with 720 MW at a total storage cost of Rs 13.49 million per MW per annum and an equivalent annual fixed charge (EAFC) of Rs 10.96 million per MW per annum. Tata Power Company Limited was awarded 324 MW at a total storage cost of Rs 13.51 million per MW per annum and an EAFC of Rs 10.84 million per MW per annum. Meanwhile, Torrent Energy Storage Solutions Private Limited secured 300 MW at a total storage cost of Rs 13.5 million per MW per annum.
According to the tender specifications, the selected developers will set up the PSPs and make the storage capacity available to buying entities on an on-demand basis. The developers will be responsible for land acquisition, project development, grid connectivity, and obtaining necessary approvals, while the buying entities will manage the charging and discharging of the PSPs.
Earlier, in July 2026, SECI announced the winners of the auction to set up 2,000 MW of interstate transmission system-connected wind power projects. Only 1,495 MW capacity has been awarded. Gentari Renewables India Castor One emerged as the lowest bidder, securing 200 MW at a tariff of Rs 3.78 per kWh.
