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SECI Completes 600 MW Wind Solar Hybrid Auction Insight

Last Update 07 October 2024

SECI's recent auction for 600 MW Wind Solar Hybrid Power Projects marks a significant milestone in India's Renewable Energy sector. Major companies competed fiercely, with ACME Solar and Juniper Green Energy winning 300 MW and 150 MW at ₹3.25 per kWh, while Sembcorp secured 150 MW at ₹3.26. These results reflect declining tariffs and strong competition, supporting India's Renewable Energy goals.

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The auction completed by SECI for development of hybrid RE project is a step towards achieving the country’s goal of increasing RE capacity addition and reducing reliance on fossil fuels. The tariffs discovered through this auction represents strong market competition and interest from key players in the hybrid projects and with more investment expected in the upcoming years, the tariff is expected to go further down making renewable energy more affordable and attractive in India. Lower tariff rates will help DISCOMs and other utility to procure RE during peak hours at lower cost to meet their electricity demand. With increase in hybrid projects seen across the country, there is opportunity for local manufacturers of RE components and OEMs to meet the demand of country and even export their products. This auction broadly will help India reduce its carbon emission and reduce dependence on imported fossil fuel.

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