+
Altra Xergi Wins SECI Auction for Renewable Energy Supply
POWER & RENEWABLE ENERGY

Altra Xergi Wins SECI Auction for Renewable Energy Supply

Altra Xergi Power (O2 Power) emerged victorious in the Solar Energy Corporation of India (SECI) auction, winning the bid to supply 8,000 MWh (2000 MW x 4 hours) of renewable energy from interstate transmission system (ISTS)-connected projects. The winning tariff was Rs 8.50 (~$0.099)/kWh for a 200 MW supply.

Other bidders included ACME Solar Holdings and Avaada Energy. However, the total awarded capacity was reduced to 656 MW due to lower bid submissions than expected. The auction tender, floated in September 2024, stipulates that selected bidders must start power supply within 24 months of signing the power purchase agreement (PPA).

The auction involves peak energy supply during four daily peak hours. Any shortfall in supply will result in penalties. Bidders can submit projects anywhere in India, and the capacity can be from renewable or storage systems connected to ISTS. JSW Neo Energy, Hero Solar Energy, and others also won bids for SECI’s Tranche IV renewable energy auction.

Altra Xergi Power (O2 Power) emerged victorious in the Solar Energy Corporation of India (SECI) auction, winning the bid to supply 8,000 MWh (2000 MW x 4 hours) of renewable energy from interstate transmission system (ISTS)-connected projects. The winning tariff was Rs 8.50 (~$0.099)/kWh for a 200 MW supply. Other bidders included ACME Solar Holdings and Avaada Energy. However, the total awarded capacity was reduced to 656 MW due to lower bid submissions than expected. The auction tender, floated in September 2024, stipulates that selected bidders must start power supply within 24 months of signing the power purchase agreement (PPA). The auction involves peak energy supply during four daily peak hours. Any shortfall in supply will result in penalties. Bidders can submit projects anywhere in India, and the capacity can be from renewable or storage systems connected to ISTS. JSW Neo Energy, Hero Solar Energy, and others also won bids for SECI’s Tranche IV renewable energy auction.

Next Story
Infrastructure Transport

Syama Prasad Mookerjee Port Partners to Redevelop Nimtala Ghat

Kolkata: Syama Prasad Mookerjee Port, Kolkata (SMPK), signed a Memorandum of Understanding (MoU) on Tuesday with PS Group Realty Private Limited to redevelop and beautify Nimtala Ghat as part of PS Group’s Corporate Social Responsibility (CSR) initiative.The agreement was formalised at SMPK’s Head Office at 15, Strand Road, in the presence of SMPK chairman Rathendra Raman, deputy chairman Samrat Rahi, PS Group directors Saurav Dugar, Gaurav Dugar, Arun Sancheti, and senior SMPK officials.Under the MoU, PS Group will undertake the full redevelopment and permitted construction of Nimtala Imm..

Next Story
Infrastructure Urban

CSIR-NCL and Covestro Collaborate to Upcycle Polyurethane Waste

In a move towards sustainable plastic waste management, Pune-based CSIR-National Chemical Laboratory (CSIR-NCL) signed a Memorandum of Understanding (MoU) with Covestro (India) Private Limited on Wednesday to develop innovative upcycling technologies for polyurethane waste.Polyurethane is notoriously difficult to recycle, with current methods often proving inefficient, costly, and environmentally harmful. This collaboration aims to address existing challenges, including high energy usage and deterioration of material quality during recycling.Ashish Lele, director of CSIR-NCL, stated, “This p..

Next Story
Infrastructure Urban

Torrent Pharma Seeks CCI Approval for Rs 195 Billion JB Chemicals Deal

Ahmedabad-based Torrent Pharmaceuticals has sought clearance from the Competition Commission of India (CCI) to acquire a majority stake in J B Chemicals and Pharmaceuticals in a Rs 195 billion deal.Upon completion, Torrent Pharmaceuticals will become India’s second most valuable pharmaceutical company.The move follows Torrent’s June announcement to acquire a majority stake in J B Chemicals for Rs 195 billion.“The proposed combination pertains to the acquisition of shareholding by Torrent Pharmaceuticals Ltd in J B Chemicals & Pharmaceuticals Ltd, followed by the merger of the target ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?