SECI’s 1.2GW ISTS solar auction draws lowest bid of 2.55 rupees

Facebook
Twitter
LinkedIn
Reddit
Email
ReNew Power put in the lowest bid of 2.55 rupees per unit for 300MW of solar PV capacity. Credit: ReNew Power

Solar Energy Corporation of India (SECI) has carried out a 1.2GW solar auction in which the four lowest bidders stayed with the same tariff as their opening bid level, ranging between 2.55-2.61 rupees per unit (US$3.6-3.7 cents).

Vinay Rustagi, managing director of consultancy firm Bridge to India, told PV Tech: “The really interesting thing is that there were only four bidders and there was no auction, they all seem to have won at their opening bid level. As we mentioned last week, the field of winning bidders continues to narrow down.”

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The winning bids were as follows:

Bidder Capacity (MW) Tariff (INR/kWh)
ReNew Power 300 2.55
Azure Power 300 2.58
Eden Renewable 300 2.60
SBSR Power (Softbank) 300 (bid for 600) 2.61

The capacities are to be connected to the Interstate Transmission system (ISTS).

Last August's 2GW ISTS-connected solar auction by state-run utility NTPC drew lowest bids of between 2.59-2.60 rupees, but for mainly higher capacities.

Last week, the industry also saw a 1GW solar auction completed in the state of Maharashtra with lowest tariffs (INR2.74-2.75/kWh) remaining competitive but the number of winning players further narrowing, as pointed out by Rustagi.

Gujarat Urja Vikas Nigam Limited (GUVNL) had also auctioned 500MW of grid-connected solar capacity with winning tariffs in the range of INR2.55-2.66/kWh.

Read Next

July 30, 2025
Donald Trump has announced a 25% tariff on all imports entering the US from India from the 1st August 2025.
July 29, 2025
US-based solar manufacturer T1 Energy has expressed support for the US government’s tariff investigations into global polysilicon imports and solar products from Laos, Indonesia and India.
July 25, 2025
A round-up of news from the Indian solar sector this week, including Reliance Industries' cell plant, Juniper Green Energy powering solar PV and Solex Energy launching new modules.
July 25, 2025
According to a report from the International Renewable Energy Agency (IRENA), the global levelised cost of electricity (LCOE) for solar PV reached US$0.043/kWh in 2024.
July 22, 2025
Spanish independent power producer (IPP) Zelestra  has begun commercial operations at its 435MWdc Gorbea solar project in the state of Rajasthan, India. 
July 17, 2025
Indian solar manufacturers are among the targets of a new petition filed by US producers alleging illegal trade practices by overseas firms.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK