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					</table><p>The Solar Energy Corporation of India (<a href="https://www.seci.co.in/" target="_blank" rel="noopener">SECI</a>), the sole renewable energy implementing agency, is currently seeking buyers for 8.576 GW of awarded renewable energy capacity across multiple solar, hybrid, and firm renewable energy programs.</p>
<p>The unsold portfolio comprises projects that have been auctioned and awarded to developers but have not yet secured Power Sale Agreements (PSAs) with electricity distribution companies (DISCOMs).</p>
<p>According to SECI&#8217;s latest update, the tariffs for the available projects range from ₹2.42 (0.0256)/kWh to ₹8.1 (~$0.0857)/kWh, depending on the technology and auction tranche.</p>
<p>The availability of such a large volume of awarded-but-unsold renewable capacity highlights the ongoing gap between project awards and PSA execution. Delays in offtake agreements can postpone financial closure, equipment procurement, and project construction, ultimately slowing renewable energy deployment.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/06/SECI-Yet-to-Find-Offtakers.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-97162 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/06/SECI-Yet-to-Find-Offtakers.png" alt="" width="628" height="318" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/06/SECI-Yet-to-Find-Offtakers.png 628w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/06/SECI-Yet-to-Find-Offtakers-300x152.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/06/SECI-Yet-to-Find-Offtakers-624x316.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/06/SECI-Yet-to-Find-Offtakers-600x304.png 600w" sizes="auto, (max-width: 628px) 100vw, 628px" /></a>The manufacturing-linked solar configuration accounts for the largest share of the unsold portfolio at 2,366 MW, followed by ISTS Tranche-XX Solar plus BESS (1,500 MW), ISTS Tranche-XXI Solar plus BESS (1,200 MW), and ISTS Solar plus BESS Tranche-XV (500 MW). Hybrid projects collectively account for 2,210 MW.  ISTS Tranche XIV accounts for 600 MW of solar capacity, and ISTS FDRE-VI program has 200 MW of capacity.</p>
<p>Under the 7 GW manufacturing-linked solar auction, the power available for sale comprises 250 MW from Azure Power at a tariff of ₹2.54 (~$0.0269)/kWh, 317 MW from Azure Power India, and 1,799 MW from Adani Green Energy Four each at a tariff of ₹2.42 (~$0.0256)/kWh. The capacity has been pending since 2019, when the auction was held.</p>
<p>Under its Tranche XXI solar-plus-battery storage auction, <a href="https://www.mercomindia.com/engie-nlc-india-rays-power-among-winners-of-secis-1-2-gw-solar-plus-3-6-gwh-storage-auction" target="_blank" rel="noopener">conducted</a> in January 2026, SECI has yet to find takers for the full 1,200 MW capacity. The available capacity includes 600 MW from NLC India Renewables and 200 MW from Engie Energy India, each at a tariff of ₹3.12 (~$0.033)/kWh. It also comprises 300 MW from RPIL Power Three and 100 MW from Oriana Power, each at a tariff of ₹3.13 (~$0.033)/kWh.</p>
<p>SECI has yet to secure offtakers for 1,500 MW of the awarded capacity in its 2 GW Tranche XX solar-plus-storage <a href="https://www.mercomindia.com/purvah-sael-among-winners-of-secis-2-gw-solar-4-gwh-energy-storage-auction" target="_blank" rel="noopener">auction</a>. MB Power accounts 150 MW of available capacity; Shivalaya Construction 600 MW; Oswal Cables50 MW; Purvah Green Power 100 MW; LC Infra Projects 50 MW; and Stockwell Solar Services 80 MW, all at a tariff of ₹2.86 (~$0.030)/kWh. SAEL Industries, GS2 Solar, and Navayuga Green Energy have 300 MW, 50 MW, and 120 MW, respectively, at a tariff of ₹2.87 (~$0.0304)/kWh.</p>
<p>Under the 1.2 GW Tranche XV solar-plus-storage <a href="https://www.mercomindia.com/seci-solar-plus-storage-auction-tranche-xv" target="_blank" rel="noopener">auction</a>, JSW Neo Energy’s 500 MW capacity was awarded at a tariff of ₹3.42 (~$0.036)/kWh and has remained stranded since the auction  in July 2024.</p>
<p>In SECI’s 1.5 GW Tranche XIV solar <a href="https://www.mercomindia.com/ntpc-win-seci-solar-tranche-xvi-auction" target="_blank" rel="noopener">auction</a>, 600 MW of capacity is available, comprising 300 MW each from Avaada Energy and ReNew Solar Power at a tariff of ₹2.57 (~$0.027)/kWh.</p>
<p>SECI has yet to secure any offtakers for its 600 MW Tranche IX wind-solar hybrid auction <a href="https://www.mercomindia.com/seci-wind-solar-auction-tranche-ix" target="_blank" rel="noopener">held</a> in October 2024. Juniper Green Energy has 150 MW, and ACME Solar Holdings has 300 MW at a tariff of ₹3.25 (~$0.034)/kWh, while Sembcorp Green Infra has 150 MW at a tariff of ₹3.26 (~$0.034)/kWh.</p>
<p>In the 1.2 GW Tranche VIII wind-solar hybrid <a href="https://www.mercomindia.com/seci-wind-solar-auction-tranche-viii" target="_blank" rel="noopener">auction</a>, JSW Neo Energy has 300 MW, Adyant Enersol has 60 MW, AMPIN Energy has 150 MW, and Asurari Renewables India has 300 MW, each at a tariff of ₹3.45 (~$0.036)/kWh. Juniper Green Energy has 150 MW at a tariff of ₹3.43 (~$0.036)/kWh, and Avaada Energy has 240 MW at a tariff of ₹3.46 (~$0.036)/kWh.</p>
<p>Under the ISTS Hybrid Tranche-VI program, SECI has 410 MW of unsold capacity. AMP Green Energy has a capacity of 50 MW at ₹4.64 (~$0.0491)/kWh; ReNew Vikram Shakti has 300 MW at ₹4.69 (~$0.0497)/kWh; and Hero Solar Energy has 60 MW at ₹4.72 (~$0.0499)/kWh.</p>
<p>SECI has yet to secure offtakers for its 8 GWh Tranche VI FDRE <a href="https://www.mercomindia.com/altra-xergi-seci-fdre-vi-auction" target="_blank" rel="noopener">auction</a>. It has 200 MW of available capacity from Altra Xergi Power at a tariff of ₹8.1 (~$0.085)/kWh.</p>


SECI Seeks Offtakers for 8.58 GW of Awarded Renewable Energy Projects


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					</table><p>The Ministry of Finance <a href="https://www.mercomindia.com/government-permits-use-of-insurance-surety-bonds-in-power-project-bids" target="_blank" rel="noopener">permitted</a> the use of insurance surety bonds as an alternative to bank guarantees for both bid and performance security under the standard bidding guidelines for power projects. These projects include solar, wind, hybrid, firm, and dispatchable renewable energy, as well as battery energy storage systems, pumped storage projects, and transmission projects.</p>
<p>India’s renewable energy procurement pipeline is witnessing a <a href="https://www.mercomindia.com/over-10-gw-of-seci-awarded-renewable-capacity-yet-to-find-offtakers" target="_blank" rel="noopener">growing</a> 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 projects, reflecting a widening gap between project awards and offtake tie-ups with the distribution companies.</p>
<p>The Central Electricity Regulatory Commission <a href="https://www.mercomindia.com/cerc-denies-relief-to-hybrid-renewable-energy-project-in-grid-connectivity-case" target="_blank" rel="noopener">rejected</a> a plea by a renewable energy solutions company seeking interim protection against action by the Central Transmission Utility of India, including possible revocation of grid connectivity for its 200 MW hybrid renewable energy project.</p>
<p>The Karnataka Electricity Regulatory Commission <a href="https://www.mercomindia.com/karnataka-proposes-new-rules-for-transmission-licenses-under-competitive-bidding" target="_blank" rel="noopener">issued</a> draft regulations to govern the grant of transmission licenses for intrastate projects awarded through competitive bidding, laying down a detailed framework covering licensing procedures, tariff adoption, and operational obligations. The Commission has invited feedback on the draft regulations within 15 days.</p>
<p>The Arunachal Pradesh Electricity Regulatory Commission <a href="https://www.mercomindia.com/arunachal-pradesh-to-continue-existing-power-tariff-structure-for-fy-2027" target="_blank" rel="noopener">retained</a> the existing retail electricity tariff structure for the financial year (FY) 2026–27. For industrial consumers, tariffs remain unchanged across voltage levels. For low-tension supply, the energy charge continues at ₹4.95 (~$0.0536)/kWh for both 1-phase (230 V) and 3-phase (400 V) connections.</p>
<p>The Odisha Electricity Regulatory Commission <a href="https://www.mercomindia.com/odisha-retains-last-years-power-tariffs-for-fy-2027" target="_blank" rel="noopener">retained</a> the previous year’s retail power supply tariff structure for the FY 2026-27, covering energy charges, demand charges, rebates, and surcharges across consumer categories. It has, however, made certain revisions to open access charges. It has also introduced time-of-day tariffs for consumers with smart meters.</p>
<p>The Maharashtra government gave the go-ahead for the bifurcation of the Maharashtra State Electricity Distribution Company into two distribution companies and <a href="https://www.mercomindia.com/maharashtra-approves-bifurcation-of-msedcl-ipo-plans" target="_blank" rel="noopener">approved</a> the proposal for its initial public offering. The restructuring plans involve carving out a new DISCOM, MSEB Solar Agro Power, for supplying electricity to agricultural consumers.</p>
<p>Power Grid Corporation of India <a href="https://www.mercomindia.com/powergrid-floats-tenders-to-evacuate-6-gw-of-solar-power-from-rajasthan" target="_blank" rel="noopener">floated</a> two tenders for setting up ±800 kV high-voltage direct current transmission line packages to evacuate 6 GW of solar power from the Rajasthan Renewable Energy Zone Phase-IV. The last day to submit the bids for both tenders is April 17, 2026. Bids will be opened on the same day. The transmission projects must be completed within 38 months.</p>
<p>Rajasthan-based Wonder Cement will <a href="https://www.mercomindia.com/wonder-cement-to-procure-30-mw-from-sunsures-solar-projects" target="_blank" rel="noopener">procure</a> 30 MW of solar power from Sunsure Energy’s 150 MW project in Solapur, Maharashtra, and 49 MW project in Augasi, Uttar Pradesh. The two companies signed power purchase agreements to supply power to Wonder Cement’s facilities in Aligarh, Uttar Pradesh, and Dhule, Maharashtra. Wonder Cement expects to meet 67% of its electricity needs at the Dhule facility and 52% at the Aligarh facility through solar power procurement.</p>
<p>Textile firm Bombay Dyeing and Manufacturing Company <a href="https://www.mercomindia.com/bombay-dyeing-to-save-40-on-power-costs-with-2-5-mw-rooftop-solar-system" target="_blank" rel="noopener">commissioned</a> a 2.5 MW rooftop solar project at its Rasayani facility in Maharashtra, aiming to reduce energy costs, enhance reliability, and improve long-term sustainability of its manufacturing operations. The system, installed at the company’s polyester and textile manufacturing unit in Patalganga, was executed by B. U. Bhandari Energy under a capital expenditure model.</p>
<p>The Indian Railway Finance Corporation, the dedicated funding arm of the Indian Railways, <a href="https://www.mercomindia.com/irfc-disburses-%E2%82%B910-billion-loan-to-maharashtra-power-generation-company" target="_blank" rel="noopener">disbursed</a> a ₹10 billion (~$108.05 million) term loan to Maharashtra State Power Generation Company (MAHAGENCO). MAHAGENCO will use the funding to enhance its operational capabilities. The company has an installed power generation capacity of 13,880.55 MW.</p>
<p>Mumbai-based e-waste and lithium-ion battery recycling company Recyclekaro <a href="https://www.mercomindia.com/recyclekaro-secures-government-incentive-for-critical-mineral-recycling" target="_blank" rel="noopener">secured</a> eligibility for the incentive program to promote critical mineral recycling, launched by the Ministry of Mines under the National Critical Minerals Mission. The company plans to invest ₹3 billion (~$32.29 million) to expand its recycling operations, increasing its total processing capacity to around 50,000 metric tons.</p>
<p>WorkOnGrid, an AI-native operations intelligence platform for power, water, and gas utilities, <a href="https://www.mercomindia.com/workongrid-raises-%E2%82%B9225-million-to-scale-data-intelligence-for-power-utilities" target="_blank" rel="noopener">raised</a> ₹225 million (~$2.43 million) in a funding round led by Transition VC. The funding round also saw participation from the Indian Angel Network. The funds will be used to scale WorkOnGrid’s global go-to-market efforts, enhance its AI and machine learning capabilities, and build international infrastructure.</p>


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