The Solar Energy Corporation of India signs Power Sale Agreements for 1 GW of wind projects

The Solar Energy Corporation of India (SECI) has signed power sale agreements (PSAs) for 1-GW of wind projects tendered in the country’s second wind power auction.

The tender was conducted by SECI in June this year on behalf of the Ministry of New & Renewable Energy (MNRE) and attracted record-low bids of just INR 2.64 (USD 0.041/EUR 0.034) per kWh.

The contracts for the inter-state transmission system (ISTS)-connected projects were signed with six power distribution companies (discoms) that operate across India. In the auction, ReNew Power won a contract to develop 250 MW of wind project, Orange Sironj won 200 MW of wind project, Inox Wind and Green Infra were awarded 250 MW each and Adani was awarded 50 MW. These projects will be developed in the states of Gujarat, Tamil Nadu and Madhya Pradesh.

SECI has indicated that power purchase agreements (PPAs) with project developers will be signed very soon.

This development is in keeping with the Indian government's clean energy roadmap, which was released last week. It aims to produce 175 GW of renewable energy by 2022 and envisages holding tenders for at least 3 GW of wind projects by the end of the current fiscal year, or through March 2018. An auction for 2 GW of wind power capacity was launched last week.