Indian 1.2 GW renewables-plus-storage tender secures price of $0.06/kWh

National body the Solar Energy Corporation of India (SECI) has announced the results of its 1.2 GW tender to secure “round-the-clock” clean electricity.

The projects awarded must include a mandatory volume of energy storage.

With an average electricity tariff of INR 5.06 ($0.06)/kWh secured, Hero Future Energies secured 120 MW, and Hexa Climate Solutions won 100 MW, by quoting the lowest tariff, of INR 5.06/kWh. Of the remaining capacity, 150 MW was awarded to Jindal India Power and 50 MW to Sembcorp Green Infra, both at a tariff of INR 5.07/kWh.

The winning developers will implement the projects under a build-own-operate model. The projects can be located anywhere in India but must be connected to the inter-state transmission system.

Power may be generated from solar, wind, wind-solar hybrid sites, or any other renewable energy-based system, with mandatory backing from an energy storage system.

SECI will sign a 25-year power purchase agreement with the successful bidders. The power procured will be sold to various buying entities across India.

Developers must maintain a demand fulfillment ratio of 75% on a monthly basis, 80% annually, and 90% during peak hours.

From pv magazine India.