Regulator Approves Tariff for SECI's 450 MW Solar Projects

05 Feb 2025 CW Team

The Central Electricity Regulatory Commission (CERC) has approved the tariff of ?2.48 (~$0.028)/kWh for 450 MW solar power projects developed under the Solar Energy Corporation of India (SECI). Additionally, a trading margin of ?0.07 (~$0.0008)/kWh has been sanctioned.

SECI, designated as the nodal agency for implementing interstate transmission system (ISTS)-connected and state-specific solar and wind power projects, initially issued a tender for a 1,200 MW solar project under the ISTS framework. However, the total capacity was later reduced to 500 MW. The bidding process attracted proposals totaling 940 MW, all of which met the required techno-commercial criteria.

Following the evaluation, SECI awarded 250 MW to SAEL Industries and 200 MW to NTPC Renewable Energy at a tariff of ?2.48 (~$0.028)/kWh. Subsequently, SECI sought CERC’s approval for the discovered tariff.

CERC analyzed the case and confirmed that distribution licensees or intermediary procurers could approach it for tariff adoption. Since the awarded capacities had not yet been tied to specific distribution licensees, the trading margin would be determined based on the power sale agreement. The Commission approved SECI’s tariff, recognizing that it was determined through competitive bidding and aligned with market conditions. It further stipulated that the trading margin should be capped at ?0.02 (~$0.00023)/kWh if SECI does not provide an escrow arrangement or an irrevocable and unconditional letter of credit to solar generators.

In a separate development, CERC approved a tariff of ?2.6 (~$0.03)/kWh for 900 MW ISTS-connected solar projects under Tranche XI, along with a trading margin of ?0.07 (~$0.0008)/kWh. It also sanctioned Calcutta Electric Supply Corporation’s (CESC) petition to procure electricity from Purvah Green Power at ?2.69 (~$0.031)/kWh, along with deviations from standard bidding guidelines.

News source: Mercom India

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