India’s renewable energy procurement pipeline is witnessing a growing build-up of unsold renewable capacity, with Solar Energy Corporation of India (SECI) holding nearly 10.1 GW of awarded renewable power across various programs.

The power available for sale with SECI spans solar, hybrid, and firm dispatchable renewable energy (FDRE) projects, reflecting a widening gap between project awards and offtake tie-ups with the distribution companies (DISCOMs).

While tariffs remain competitive across nearly all segments, DISCOMs are hesitant to sign power sale agreements (PSAs), hoping for further price declines, creating a difficult situation for SECI as the market struggles to absorb large-scale renewable energy capacity.

Across all categories, tariffs have been determined through competitive bidding, with SECI’s trading margin of ₹0.07 (~$0.0007)/kWh applied to the discovered tariff.

The projects have a 24-month commissioning period from the effective date of the power purchase agreement (PPA).

Under the interstate transmission system (ISTS) solar plus energy storage Tranche XXI auction, 600 MW is available from NLC Renewables, and 200 MW from Engie Energy India at a tariff of ₹3.12 (~$0.033)/kWh. Also, 300 MW from RPIL Power Three, and 100 MW from Oriana Power are available at a tariff of ₹3.13 (~$0.034)/kWh.

Under the ISTS solar plus battery storage auction Tranche XX, MB Power (Madhya Pradesh) has 150 MW of available capacity, Shivalaya Construction has 600 MW, Oswal Cables has 50 MW, Purvah Green Power has 300 MW, Banyan Insolation has 100 MW, LC Infra Projects has 50 MW, and Stockwell Solar Services has 80 MW at a tariff of ₹2.86 (~$0.031)/kWh.

SAEL Industries has 300 MW, GH2 Solar has 50 MW, and Navayuga Green Energy has 120 MW at ₹2.87 (~$0.031)/kWh.

In the ISTS solar-plus-battery storage Tranche XV auction, JSW Neo Energy has 500 MW of available capacity at ₹3.42 (~$0.037)/kWh.

The ISTS Tranche  XIV auction has 300 MW from Avaada Energy and 300 MW from ReNew Solar Power at ₹2.57 (~$0.028)/kWh.

The ISTS manufacturing-linked solar auction includes 250 MW from Azure Power at ₹2.54 (~$0.027)/kWh, 317 MW from Azure Power, and 1.799 GW from Adani Green Energy Four at ₹2.42 (~$0.026)/kWh.

In the ISTS solar-wind hybrid Tranche IX auction, Juniper Green Energy has 150 MW, and ACME Solar Holdings has 300 MW at ₹3.25 (~$0.034)/kWh. Sembcorp Green Infra has 150 MW of available capacity at ₹3.26 (~$0.035)/kWh.

Under the ISTS solar-wind hybrid Tranche VIII auction, JSW Neo Energy has 300 MW, Adyant Enersol has 60 MW, AMPIN Energy Utility has 150 MW, and Asurari Renewables India has 300 MW of available capacity at ₹3.45 (~$0.037)/kWh. Juniper Green Energy has 150 MW at ₹3.43 (~$0.036)/kWh, and Avaada Energy has 240 MW at ₹3.46 (~$0.037)/kWh.

The ISTS hybrid Tranche VI auction has 50 MW from AMP Energy Green at ₹4.64 (~$0.049)/kWh, 300 MW from ReNew Vikram Shakti at ₹4.69 (~$0.051)/kWh, and 60 MW from Hero Solar Energy at ₹4.72 (~$0.051)/kWh.

Similarly, the ISTS FDRE Tranche VI auction has 200 MW of available capacity from Altra Xergi Power at ₹8.1 (~$0.087)/kWh.

Under the ISTS FDRE Tranche VII auction, Adyant Enersol has 100 MW of available capacity at ₹6.27 (~$0.067)/kWh. Serentica Renewables has 600 MW, AMPIN Energy Utility Nine has 199 MW, and ACME Solar has 301 MW of available capacity at ₹6.28 (~$0.068)/kWh.

Recently, the Ministry of New and Renewable Energy designated SECI as the sole renewable energy implementing agency for issuing renewable energy procurement bids as an intermediary procurer.