India’s SECI has reached a record low tariff of INR 2.86/kWh in a tender for 2 GW of solar coupled with 1 GW/4 GWh of energy storage. The result marks the first time a solar-plus-storage configuration in India has fallen below the INR 3/kWh threshold.
The tender attracted several new participants to the hybrid auction. Shivalaya Construction secured the largest allocation of 600 MW, followed by Purvah Green Power with 300 MW, Welspun Renewable Energy with 200 MW, MB Power (Madhya Pradesh) Ltd. with 150 MW, Banyan Insolation with 100 MW, Stockwell Solar Services with 80 MW, and LC Infra Projects with 50 MW.
SAEL Industries and GH2 Solar were awarded 300 MW and 50 MW, respectively, at INR 2.87/kWh, while Navayuga Green Energy secured the remaining capacity at the same price.
“The cutthroat competition witnessed in the recent standalone BESS tenders seems to have rubbed onto the solar-plus-storage segment as well, and we welcome the new entrants in the list as SECI’s first time awardees,” said Pratik Prasun, deputy general manager at SECI.
Under tender rules, each megawatt of solar capacity must be paired with at least 500 kW/2 MWh of energy storage. The projects may be located anywhere in India but must be connected to the Inter-State Transmission System.
