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India hits $0.068/kWh tariff in 4-hour peak renewable power tender

SECI has discovered a lowest tariff of INR 5.99 ($0.068)/kWh in its 1.5 GW tender for four-hour assured peak renewable power. Waaree Energies secured 700 MW, while NTPC REL and ACME Solar won 500 MW and 300 MW, respectively.
Uma Gupta
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Uma Gupta
Image: Waaree Energies

The Solar Energy Corp. of India (SECI) has discovered a lowest tariff of INR 5.99 ($0.068)/kWh for four-hour assured peak renewable power.

The tariff was discovered in SECI’s FDRE-IX 1,500 MW tender of 4-hour ssured peak power from interstate transmission system (ISTS)-connected renewable energy projects under a tariff-based competitive bidding process.

Waaree Energies emerged as the lowest bidder, securing 700 MW at INR 5.99/kWh. NTPC Renewable Energy Ltd. (NTPC REL) secured 500 MW at INR 6/kWh, while ACME Solar secured the remaining 300 MW at the same tariff.

The latest tariff discovery comes shortly after SECI announced a tariff of INR 5.25/kWh for renewable energy round-the-clock (RE-RTC) power.

SECI Managing Director Akash Tripathi said the latest tariff discovery shows that renewable energy can be green, firm, reliable and affordable, even during peak demand hours.

“These price discoveries demonstrate how rapidly the economics of renewable energy and storage are evolving and open up exciting possibilities for meeting India’s growing electricity demand with clean and dependable power at competitive tariffs,” Tripathi said.

He added that SECI remains committed to innovation in power products and procurement models that translate India’s ambitious energy transition into affordable power for distribution companies and consumers.

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