SAEL Industries, Jindal India Renewable Energy, Sembcorp Green, JBM Renewables, Fastnote Biofuels (Hindustan Power), and Reliance NU Energies won SJVN’s auction to develop 1,200 MW interstate transmission system-connected solar power projects with 600 MW/2,400 MWh energy storage systems.

SAEL, Jindal, Sembcorp, and JBM quoted a tariff of ₹3.32 (~$0.0389)/kWh to win 150 MW, 300 MW, 150 MW, and 150 MW, respectively.

Fastnote Biofuels won 100 MW at a tariff of ₹3.33 (~$0.0390)/kWh.

Reliance NU Energies won 350 MW, out of a quoted capacity of 600 MW, at a tariff of ₹3.33 (~$0.0390)/kW under the bucket filling method.

The tender was floated in September last year.

Bidders were allowed to offer a minimum project capacity of 50 MW and a maximum of 600 MW in a single bid. The total capacity that was to be awarded was 1,200 MW.

Solar projects that were under construction, yet to be commissioned, or already commissioned but selling power on a short-term merchant basis were eligible for selection under the tender. However, these projects must not have been accepted under state or central programs and should not have been obligated to sell power to beneficiaries.

The deployment of solar technology remained technology agnostic in terms of project selection. Bidders can use crystalline silicon, thin-film, or concentrated photovoltaic technology, with or without trackers.

Bidders must use commercially established and operational technologies to minimize technology-related risks and ensure the project’s successful commissioning.

Government agencies floated around 14.4 GW of solar tenders in Q1 2025, a 53.1% drop compared to 30.7 GW in Q1 2024, but a 5.4% increase from Q4 2024, according to Mercom India Research. The four implementing agencies, NTPC, NHPC, SECI, and SJVN, together issued tenders amounting to 77% of the 50 GW annual target for FY25. They were responsible for 41% of all solar tenders floated in Q1 2025.

In February this year, the Central Electricity Authority clarified all renewable energy implementing agencies and state utilities must incorporate a minimum two-hour co-located energy storage system equivalent to 10% of the installed solar capacity in all future solar tenders.

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