The Solar Energy Corporation of India (SECI) has announced the winners of its auction to procure 1.5 GW of firm and dispatchable renewable energy (FDRE) from Inter-State Transmission System (ISTS)-connected projects across India under Tranche II. The tender was largely undersubscribed, as SECI awarded only 480 MW out of the total 1.5 GW capacity that was auctioned. The company Hero Solar quoted the lowest tariff of INR5.59/kWh (US$6.75c/kWh) to win 120 MW. Other bidders offered INR5.60/kWh (US$6.77c/kWh): JSW Energy won 180 MW, Serentica Renewables 100 MW, and ReNew Solar Power 80 MW.
Simultaneously, India’s NTPC unveiled the winners of its auction for the supply of 1.5 GW of ISTS-connected wind-solar hybrid power projects across India under Tranche IV. This tender, for its part, was fully subscribed. ABC Cleantech quoted the lowest tariff of INR3.27/kWh (US$3.95c/kWh) to win the highest awarded capacity of 750 MW. Juniper quoted INR3.29/kWh (US$3.97c/kWh) to win 300 MW, while ReNew was awarded 300 MW out of the 600 MW quoted capacity at a tariff of INR3.32/kWh (US$4c)/kWh. Finally, ACME won 150 MW at INR3.32/kWh.
At the end of 2022, solar and wind accounted for 22% of installed capacity in India, with respectively 63 GW and 42 GW, while hydropower capacity surpassed 51 GW. India plans to increase its non-fossil fuel capacity to 500 GW.
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