Hero Future, JSW, Serentica and ReNew Win SECI’s 1.5 GW FDRE-II Auction

The lowest tariff discovered in the auction was ₹5.59/kWh


Hero Solar Energy (Hero Future Energies), JSW Neo Energy (JSW Energy), Serentica Renewables India, and ReNew Solar Power (ReNew) were declared winners in the Solar Energy Corporation of India’s (SECI) auction to supply 1.5 GW firm and dispatchable renewable energy (FDRE) from Inter-State Transmission System (ISTS)-connected projects under Tranche II.

Hero Solar quoted the lowest tariff of ₹5.59 (~$0.0675)/kWh to win 120 MW. JSW and Serentica quoted ₹5.60 (~$0.0677)/kWh to win 180 MW and 100 MW respectively.

ReNew won 80 MW out of the 200 MW quoted capacity at ₹5.60 (~$0.0677)/kWh.

Only 480 MW out of the total 1.5 GW was auctioned.

The FDRE model of projects aims to achieve 100% round-the-clock renewable energy at an individual project level.

SECI's ISTS Connected 1,500 MW Firm and Dispatchable Renewable Energy-II Projects - Auction Result (Load Following - Punjab and Madhya Pradesh)SECI floated the tender in July 2023 under FDRE-II to supply power to distribution companies in Punjab and Madhya Pradesh.

Both land and ISTS connectivity will be under the scope of the selected renewable energy developers. Energy Storage Systems must constitute part of the project.

The project must be designed to connect with the ISTS following the prevailing regulations set by the Central Electricity Regulatory Commission.

The connection to the grid and metering should adhere to the relevant grid code, grid connectivity standards, and regulations on communication systems for electricity transmission.

The minimum voltage level required for interconnection with the ISTS is 220 kV.

The power procured from these projects is provisioned to be sold to Punjab State Power Corporation and Madhya Pradesh Power Management Company.

SECI will act as the intermediary nodal agency for the procurement and sale of this power to the buying entities entirely on a back-to-back basis, based on due performance by the renewable energy developer as well as the buying entities.

Recently, NHPC announced the winners of its auction to supply 1.5 GW of firm and dispatchable renewable power (Peak Power Supply) from ISTS-connected projects coupled with energy storage systems anywhere in India. The lowest tariff discovered in the auction was ₹4.55 (~$0.0549)/kWh

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