Daily News Wrap-Up: SECI’s 1 GW ISTS-Connected Solar Projects Auction

Maharashtra says no to 50% RPO procurement within the state

December 21, 2023


Avaada Energy, Sprng Energy, ReNew Solar Power (ReNew), and Solarcraft Power India 8 (Blupine Energy) won the Solar Energy Corporation of India’s (SECI) auction to set up 1 GW of inter-state transmission system-connected solar power projects (Tranche XII). Avaada, Sprng, and ReNew won 300 MW, 250 MW, and 300 MW by quoting ₹2.52 (~$0.0303)/kWh. Solarcraft Power India 8 quoted ₹2.53 (~$0.0304)/kWh to win 150 MW capacity.

Maharashtra Electricity Regulatory Commission has rejected a plea for a 50% renewable energy obligation (RPO) procurement mandate from projects within Maharashtra. Such an imposition was against the Electricity Act 2003’s mandate to promote competition, and that such restrictions on distribution licensees alone would be discriminatory, the Commission said.

Squadron Energy, Neoen Australia, A-CAES NSW (Hydrostor Australia), Lightsource Development Services Australia, and Ark Energy Projects were declared winners in the Australian Energy Market Operator’s auction to develop 950 MW of renewable energy projects and 550 MW of long-duration storage. Of the total tendered capacity, five projects representing 750 MW of renewable energy generation and 524 MW of long-duration storage have received long-term energy service agreements.

The U.S. Department of Treasury and the Internal Revenue Service have proposed regulations and provided guidance to the advanced manufacturing production credit established by the Inflation Reduction Act. The new Section 45X provides a credit for the production (within the U.S.) and sale of certain eligible components, including solar and wind energy components, inverters, qualifying battery components, and applicable critical minerals.

Germany’s Federal Network Agency (Bundesnetzagentur) has reduced the price ceiling for rooftop solar auctions in 2024 to €0.105 (~$0.12)/kWh from €0.1125 (~$0.12)/kWh in 2023. The price cap (€0.735 (~$0.80)/kWh) for onshore wind and ground-mounted solar (€0.737 (~$0.80)/kWh) will remain the same as in 2023. According to the agency, the ceiling prices for rooftop solar were reduced based on the decline in project costs. In the last round of auctions in 2023, there were not many bids above €0.105 (~$0.12)/kWh.