ReNew has won rights in a Solar Energy Corporation of India (SECI) auction to develop 300 MW with an INR2.55/kWh bid ($0.035). Other winners for the 1,200 MW ISTS-connected solar projects included Azure Power and ₹2.55 – 300 MW for both at INR2.58/kWh and INR2.60/kWh respectively – as well as SBSR Power Cleantech Eleven, winning 300 MW after its INR2.61/kWh bid for 600 MW was altered because of the bucket filling method used for awarded capacities in reverse auctions. SECI will enter into 25-year power purchase agreements with the winning bidders, with the projects developed in multiple 20 MW blocks.
ReNew has won rights in a Solar Energy Corporation of India (SECI) auction to develop 300 MW with an INR2.55/kWh bid ($0.035). Other winners for the 1,200 MW ISTS-connected solar projects included Azure Power and Eden Renewables – 300 MW for both at INR2.58/kWh and INR2.60/kWh respectively – as well as SBSR Power Cleantech Eleven, winning 300 MW after its INR2.61/kWh bid for 600 MW was altered because of the bucket filling method used for awarded capacities in reverse auctions. SECI will enter into 25-year power purchase agreements with the winning bidders, with the projects developed in multiple 20 MW blocks.