The Solar Energy Corporation of India (SECI) has unveiled the winners of its tender to procure 1.2 GW of solar with 600 MW/1.2 GWh energy storage capacity in India under the ISTS Tranche-XV scheme, at a final average price of INR3.42/kWh (US$4.1c/kWh). SECI had launched the tender on a build-own-operate (BOO) basis and will now enter into a power purchase agreement (PPA) with the successful bidders for purchase of solar power for a period of 25 years.
JSW Neo Energy was awarded the most capacity with 500 MW, at a tariff of US$4.1c/kWh. Acme Solar Holdings secured 350 MW and Hero Solar Energy 250 MW, both also at US$4.1c/kWh. In addition, Pace Digitek Infra won 100 MW at a tariff of US$4.08c/kWh.
At the end of 2023, solar and wind accounted for nearly 24% of installed capacity in India, with respectively 73 GW and 45 GW, while hydropower capacity reached nearly 52 GW. India plans to increase its non-fossil fuel capacity to 500 GW.
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