Solar Energy Corporation of India (SECI) has announced the auction results for its interstate transmission system (ISTS)-connected wind-solar hybrid power projects tender, which aims to develop 1.2 GW of capacity with energy storage across India and was launched under Tranche-VI in November 2022.
ReNew Vikram Shakti, a subsidiary of India’s ReNew Power, was awarded half of the capacity with 600 MW at a price of INR4.69/kWh (US$5.65c/kWh). ACME Solar, which had bid for 1,080 MW, won only 380 MW of capacity at INR4.73/kWh (US$5.76c/kWh), Hero Future Energies was awarded 120 MW at INR4.72/kWh (US$5.75c/kWh) and Amp Energy won 100 MW for a price of INR4.64/kWh (US$5.65c/kWh). Under the requirements of the tender, the successful bidders will have to install an energy storage system with a minimum capacity of 100 MWh for every 100 MW of project capacity. The developers must also commission the projects within 24 months after the effective date of the Power Purchase Agreement (PPA).
In its previous 1.2 GW wind-solar hybrid tender (Tranche-V), SECI awarded contracts to Tata Power, Amp Energy, NTPC and SJVN. In February 2023, SECI launched a tender for 1.2 GW of wind capacity across India, as well as a tender for 2 GW of solar capacity in April 2023.
At the end of 2021, solar and wind accounted for over 20% of installed capacity in India, with respectively 49 GW and 40 GW, while hydropower capacity surpassed 51 GW. India plans to increase its non-fossil fuel capacity to 500 GW and meet 50% of its energy requirements from renewables by 2030.
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