Pace Digitek, Hero Solar Energy (Hero Future Energies), ACME Solar Holdings, and JSW Neo Energy (JSW Energy) were declared winners in Solar Energy Corporation of India’s (SECI) auction to set up 1,200 MW Inter-State Transmission System (ISTS)-connected solar power projects with 600 MW/1,200 MWh energy storage systems (ESS) anywhere in India under Tranche XV.

Pace Digitek was awarded 100 MW at a tariff of ₹3.41 (~$0.0408)/ kWh. Hero Solar and ACME Solar quoted ₹3.42 (~$0.0410)/kWh to win 250 MW and 350 MW, respectively.

JSW Neo won 500 MW out of the quoted capacity of 600 MW at a tariff of ₹3.42 (~$0.0410)/kWh under the bucket-filling method.

The tender was floated in March this year.

SECI will enter into a power purchase agreement (PPA) with the successful bidders to purchase solar power for 25 years.

The selected bidders must set up the projects on a build-own-operate basis and commission them within 24 months of the effective PPA signing date.

They must set up ISTS-connected solar power projects with ESS, including the transmission network up to the interconnection or delivery point, to supply solar power to SECI at their own cost.

Further, ESS of at least 0.5 MW/1 MW of project capacity should be installed as part of the project. It should be designed for interconnection with the ISTS/InSTS by the prevailing regulations.

All approvals, permits, and clearances required for setting up the project and/or transmission network, including those needed from the state government and local bodies, will be within the developers’ scope. They will be responsible for identifying land, installation, and project ownership and obtaining connectivity and necessary approvals and interconnections with the ISTS network.

The stated or adjusted annual Capacity Utilization factor (CUF) cannot be less than 17%. The developer must maintain generation to achieve annual CUF within + 10% and -15% of the declared value till the end of ten years.

Only modules from the Ministry of New and Renewable Energy’s Approved List for Models and Manufacturers must be used.

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Source: Mercom