India’s state-owned renewable energy agency, Solar Energy Corporation of India (SECI), has finalised the results of its 1GW Round-the-Clock Thermal Mimic (RTC-TM) tender, awarding the full capacity to seven bidders at tariffs ranging from INR 5.25/kWh to INR 5.26/kWh (US$0.055/kWh).
Issued in March 2026, the tender sought firm and dispatchable renewable energy (FDRE) capable of matching the reliability profile of conventional thermal generation. Five bidders secured capacity at INR 5.25/kWh, with the remaining two awarded at INR 5.26/kWh.
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Emif II Holding V II Coöperatief secured 100MW at INR 5.25/kWh, while Hero Solar Energy secured 120MW at the same tariff. Purvah Green Power secured 70MW, Resolven Four Energy secured 150MW and Kengeri Prime Solar Power secured 180MW, all at INR 5.25/kWh.
At INR 5.26/kWh, Hexa Climate Solutions was awarded 150MW, while Juniper Green Energy secured 230MW, the largest allocation in the tender. Juniper had bid for 300MW but received 230MW under the tender’s bucket-filling mechanism.
Juniper said the 230MW award would be backed by a 25-year power purchase agreement (PPA) with SECI. The scheduled commercial operation date (COD) was set at 24 months from the PPA effective date, with the Letter of Award (LOA) expected to be issued in line with the tender schedule.
The project will be required to meet SECI’s Delivered Firm Round-the-Clock (DFR) requirements, including a minimum 90% delivery during designated peak hours, 50-60% during solar hours and 70% during non-solar, non-peak hours.
Independent power producer (IPP) Juniper said the project would combine solar, wind and battery energy storage system (BESS) capacity to meet the tender’s firm power requirements.
Juniper Green Energy has an operational portfolio of approximately 2.57GWp of renewable energy capacity and 500MWh of BESS, with a total portfolio exceeding 10GWp and 4.5GWh of BESS across operational, under-construction, contracted and awarded projects.
The IPP signed a 25-year PPA with Tata Power in October 2025 for a 180MWp solar project in Maharashtra paired with a 280MWh BESS, with operations scheduled for September 2027. It also secured INR17.39 billion (US$197 million) in debt financing from government-backed renewables lending body the Indian Renewable Energy Development Agency (IREDA) to support its renewable energy project pipeline.
