O2 Power wins 200 MW in SECI’s auction for renewable energy supply

Altra Xergi Power, a subsidiary of O2 Power, secured 200 MW in SECI’s auction for 8,000 MWh (2,000 MW x 4 hours) of peak renewable energy supply from ISTS-connected projects under tariff-based competitive bidding (FDRE-VI). The winning tariff was Rs 8.50 per kWh.

The auction saw participation from ACME Solar Holdings and Avaada Energy, with the total capacity revised to 656 MW due to provisions allowing allocation of only 80% of the floated capacity if bids fell short. A total of 820 MW was bid in the auction.

Projects can be located anywhere in India and may feature renewable energy and storage components either co-located or spread across sites, connecting to ISTS substations.