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SECI partners with H2Global Stiftung to accelerate green hydrogen ambitions

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The Solar Energy Corporation of India (SECI) has signed a memorandum of understanding (MoU) with H2Global Stiftung, a non-profit advancing global hydrogen markets, to promote green hydrogen development. The partnership focuses on leveraging H2Global’s innovative mechanism, implemented by its subsidiary Hintco, to align with international hydrogen market dynamics. Hintco’s tenders provide transparency on pricing, ensure production and delivery of clean fuels, and support legal certainty for final investment decisions. India stands to gain from H2Global’s…

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SECI issues tender for 400 MW DCR-compliant solar modules in Andhra Pradesh

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The Solar Energy Corporation of India (SECI) has floated a tender to procure 400 MW of Domestic Content Requirement (DCR)-compliant solar modules for a project in Ramagiri, Andhra Pradesh.  The modules must be manufactured, tested, packed, forwarded, supplied, and transported, with deliveries set to begin in October 2025. The bid submission deadline is December 5, 2024. The tender divides the capacity into four 100 MW packages, allowing bidders to apply for one or more packages….

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SECI debars Reliance Power and subsidiaries from tenders over fake documents

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The Solar Energy Corporation of India (SECI) has barred Reliance Power (R-Power) and its subsidiaries from participating in its tenders for three years, following the submission of a fake document by R-Power for a SECI tender issued in June.  The notice, released on November 6, under the Ministry of New and Renewable Energy (MNRE), specifies that entities, including Reliance NU BESS Limited and other subsidiaries of Reliance Power, are prohibited from SECI tenders until 2027….

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ACME Solar launches Rs 30 billion IPO

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ACME Solar launched its initial public offering (IPO) today, November 6, 2024, valued at Rs 30 billion, with a price band of Rs 275 to Rs 289 per equity share. The IPO, open until Friday, November 8, 2024, requires a minimum bid of 51 shares, with additional bids in multiples of 51.  The offering includes a fresh issue of Rs 23.95 billion and a sale offer of Rs 5.05 billion by ACME Cleantech Solutions. An…

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India issues 11,098 MW in renewable energy tenders, draws $103 mn in October investments

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In October, India’s renewable energy sector surged with 16 new tenders, totalling a capacity of 11,098 MW.  Auctions allocated 6,316 MW to various developers, pushing India’s total renewable capacity beyond 200 GW, including large hydro, while total electricity generation capacity reached 452.69 GW.  Rajasthan, Gujarat, Tamil Nadu, and Karnataka led in renewable installations. Key tenders included NHPC’s 1,200 MW solar and SECI’s 1,200 MW round-the-clock renewables.  NTPC launched a 1,200 MW wind-solar hybrid tender with…

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Powerica wins SECI auction for 500 MW ISTS wind power project

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Powerica has secured a 50 MW capacity in the Solar Energy Corporation of India’s (SECI) undersubscribed auction for a 500 MW interstate transmission system (ISTS)-connected wind power project (Tranche-XVII).  The company won the allocation at a tariff of Rs 3.81 per kWh. Due to an undersubscription, only 120 MW of the 500 MW was bid, resulting in SECI reducing the total award to 96 MW, per the tender’s 80% allocation provision. Adyant Enersol also participated,…

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JSW signs PPA with SECI for 700 MW solar project

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JSW Energy’s step-down subsidiary, JSW Renew Energy Eleven, has signed a power purchase agreement (PPA) with Solar Energy Corporation of India (SECI) for a 700 MW solar capacity under SECI Tranche XIII. The PPA, with a tariff of Rs 2.56/kWh, is set for 25 years, and the project is expected to be commissioned within 24 months. JSW Energy, targeting 10 GW operational capacity by FY 2025, currently operates 7.9 GW across thermal, hydro, and renewable…

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ACME Solar signs PPA with SECI for 150 MW hybrid solar project

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ACME Solar Holdings’ special purpose vehicle, ACME Platinum Urja, has signed a Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI) for a 150 MW hybrid solar project.  This is part of the 350 MW capacity awarded to ACME Solar by SECI. The project will include energy storage solutions (ESS) and will be connected to the inter-state transmission system via Tumkur-II substation in Karnataka. ACME Solar Holdings has also filed a draft red…

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Azure Power secures REC and HSBC refinancing, completes early bond prepayment

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Azure Power Global Ltd, a leading renewable power producer in India, has completed an Rs 24 billion refinancing transaction structured as an INR Term Loan underwritten solely by REC Ltd.  This transaction enabled the company to prepay its $350 million Green Bonds, originally issued in 2019, which were set to mature in December 2024. These bonds were backed by 10 solar projects commissioned between 2016 and 2019. Previously, Azure Power completed an Rs 13 billion…

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Sembcorp Industries secures wind-solar hybrid project from SECI

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Sembcorp Industries, through its subsidiary Sembcorp Green Infra, has won a 150 MW wind-solar hybrid project from the Solar Energy Corporation of India (SECI). The project, connected to the interstate transmission system (ISTS), is part of SECI’s 600 MW bid. Sembcorp has received the letter of award (LoA) for this build-own-operate (BOO) initiative. The power generated will be sold to SECI under a 25-year power purchase agreement (PPA). The project is expected to achieve commercial…