The Solar Energy Corporation of India (SECI) recently provided updates on unsold power allocations as of November 29, 2024. Various have been allocated solar power projects under different schemes, with specific capacities, tariffs, and conditions outlined for each project. The key details include both the project capacities and the discovered tariffs through electronic reverse auctions (e-RA).
Azure Power India Pvt. Limited has a total allocation of 967 MW across multiple projects, with a tariff of ₹2.54/kWh and a Capacity Utilization Factor (CUF) of 27.2%. Adani Green Energy Four Limited has the largest single allocation of 1,799 MW with the same CUF. These projects are governed by conditions that waive off Basic Customs Duty (BCD) impacts and stipulate that transmission charges will not apply as per Central Electricity Regulatory Commission (CERC) regulations.
Eden Renewable Cadet Private Limited and Jakson Limited are among other developers allocated a combined 600 MW, with discovered tariffs of ₹2.60/kWh and CUFs ranging from 27.5% to 30%. Similarly, NTPC Renewable Energy Limited has multiple projects totaling 800 MW, with tariffs slightly higher at ₹2.56 to ₹2.58/kWh.
Under the ISTS Solar Tranche XI scheme, developers such as Avaada Energy Private Limited and SAEL Industries Limited have received allocations. The tariff for this tranche is standardized at ₹2.57/kWh, and projects must commence supply within 24 months from the effective date of the Power Purchase Agreement (PPA). Notably, these projects do not fall under the Uniform Renewable Energy Tariff (URET) mechanism.
In a specialized scheme combining solar and energy storage (ESS), a 1,200 MW solar project with 600 MW/1,200 MWh storage has been announced. This project requires the developer to supply power during both normal and peak hours, with a CUF of 25-27%. Developers must also adhere to stringent supply schedules, especially during peak hours, to avoid penalties of up to 1.5 times the PPA tariff for shortfalls.
The ISTS Hybrid Tranche schemes, which combine solar and wind power, also include energy storage to ensure consistent supply across different times of the day. These projects have a minimum declared CUF of 30% and must commence within 24 months of the PPA’s effective date. Failure to meet energy supply targets will attract penalties calculated at twice the PPA tariff rate.
The updates emphasize SECI’s commitment to renewable energy expansion through competitive bidding and strict compliance with timelines and performance standards.
