SECI has announced the results of its latest 1 GW solar tender, launched under tranche XVIII. It has allocated 600 MW to three bidders at an average price of INR 3.06 ($0.036)/kWh.

ReNew won 250 MW by quoting the lowest tariff of INR 3.04/kWh. Acme Solar secured 300 MW at INR 3.05/kWh. Adani Renewable Energy took 50 MW at INR 3.10/kWh, against a bid quantity of 200 MW.

SECI will sign 25-year power purchase agreements (PPAs) with the successful bidders. Power procured by SECI from these projects has been provisioned to be sold to the different buying entities of India.

The projects are to be developed on a build-own-operate basis. They can be located anywhere in India and must connect to the interstate transmission grid.