Latest news with #SECI
Deccan Herald
a day ago
- Business
- Deccan Herald
AIIB, NDB & SocGen offer $132 mn debt finance for AP solar project
Each institution has committed US$44 million debt funding towards the project, which was awarded through a competitive auction conducted by the Solar Energy Corporation of India (SECI) to SAEL Solar MHP1 Pvt Limited, a subsidiary of SAEL Industries Ltd, a clean energy company.
Time of India
2 days ago
- Business
- Time of India
Battery pack prices sink to $55/kWh — Will this spark India's energy storage surge?
New Delhi: Battery prices have fallen by nearly 50 per cent to around USD 55 per kilowatt-hour (kWh) in recent months, resulting in a significant correction in energy storage system tariffs, according to a report released by SBI Capital Markets. The report titled Returns Charge Ahead As Battery Prices Discharge notes that standalone Battery Energy Storage System (BESS) tariffs have stabilised in the range of ₹0.22–0.28 million per MW per month for two-hour storage configurations, following the decline in battery pack prices from about USD 115/kWh in December 2024 to USD 55/kWh as of May 2025. Indian battery prices are still slightly higher at USD 70–80/kWh. Battery costs constitute over 50 per cent of BESS capital expenditure. The report states that viability gap funding (VGF) of up to 40 per cent, capped at ₹2.7 million/MWh, continues to play a critical role in ensuring tariff sustainability. Without VGF, tariffs are expected to rise by over 30 per cent. 'To improve cost structure and enable tariff competitiveness, policy measures such as incentives for BESS and battery pack manufacturing, increased duties on containerised BESS imports, zero import duty on battery manufacturing equipment, and 5 per cent GST on key components should be prioritised,' the report said. As of March 2025, 31 GWh of standalone BESS tenders had been issued since March 2022, of which only 4.9 GWh were awarded. The majority of the tenders are for two-hour, two-cycle systems. A sharp reduction in tariffs has been observed post-October 2024, driven by declining input costs and improved market familiarity. The report projects that India will require 230 GWh of energy storage by FY32 and estimates an annual battery demand of 40 GWh over the next seven years, considering oversizing to meet technical guarantees. India has announced 150 GWh of domestic battery manufacturing capacity, but a large portion is expected to be diverted to the electric vehicle segment. The report states that China will remain the dominant supplier for battery imports in the near term. On the policy front, standalone BESS tenders remain availability-based, with a minimum 95 per cent availability requirement and 85 per cent round-trip efficiency. The typical contract tenure is 12 years. In contrast, firm and dispatchable renewable energy (FDRE) tenders involving wind, solar and battery storage remain complex and yield project-specific tariffs. These tenders have largely been awarded to traditional thermal power developers. The report also notes a shift in tender design from fixed capacity-based models to load-following and peak demand configurations. Agencies such as SECI are increasingly issuing round-the-clock and peak-based tenders, which now constitute a significant portion of new capacity being auctioned. India's solar-plus-storage systems have recently recorded record-low tariffs under ₹6/kWh, leading to increasing deployment potential across industrial and commercial use cases.
Time of India
3 days ago
- Business
- Time of India
BC Jindal Group wins 150 MW RTC renewable energy project at Rs 5.07/unit under SECI auction
New Delhi: BC Jindal Group has secured a 150 MW Round-the-Clock (RTC) renewable energy project in a reverse auction conducted by Solar Energy Corporation of India Ltd (SECI), quoting a tariff of Rs 5.07 per unit. The project is part of SECI's 1,200 MW RTC renewable energy capacity tender floated in November 2023. As part of the bid conditions, BC Jindal Group will be responsible for setting up Inter-State Transmission System (ISTS)-connected renewable energy power projects. The scope includes developing transmission networks and establishing interconnection or delivery points with the ISTS network. The group is also tasked with land identification, project installation and ownership, obtaining necessary approvals, and ensuring interconnection for supplying power to DISCOMs tied up through SECI's Power Purchase Agreement (PPA). 'Securing the 150 MW-RTC project after competitive bidding is a reaffirmation of our unflinching commitment to delivering robust and reliable renewable energy solutions. This project win gives a big push to our goal of playing a key role in supporting India's transition to clean energy and assisting the country achieve its renewable energy target of 500 GW by 2030,' a company spokesperson said. Earlier, Jindal India Renewable Energy (JIRE), the group's renewable energy arm, won a 300 MW solar-plus-storage project from SJVN under its 1,200 MW ISTS-connected solar power tender, which includes 600 MW/2,400 MWh battery energy storage systems (BESS). JIRE also received a Letter of Acceptance (LoA) for another 300 MW solar-plus-storage project from NHPC under its 1,200 MW ISTS-connected solar initiative, including 600 MW/1,200 MWh BESS. 'These project wins highlight the Group's capabilities and expertise in implementing crucial projects across solar, wind, hybrid, RTC, and FDRE platforms,' the spokesperson added. The BC Jindal Group plans to invest $2.5 billion in the renewable energy sector by 2030. It is also setting up a solar cell and module manufacturing plant with an annual capacity of 2 GW in Maharashtra, expected to be operational by September 2026. The group is expanding its operational assets across India, with this expansion to be funded through internal accruals and debt.
Time of India
4 days ago
- Business
- Time of India
BC Jindal bags 150 MW round-the-clock project from SECI
The BC Jindal group on Wednesday announced that it has won a 150 MW round-the-clock ( RTC ) project in a reverse auction conducted by Solar Energy Corporation of India ( SECI ) at a tariff of Rs 5.07/kWh. The auction was part of SECI's 1200 MW RTC project. Under the terms of the agreements, the company would be setting up Inter-State Transmission System (ISTS)-connected renewable energy power projects. Additionally, the firm would be responsible for land identification, project installation and ownership, obtaining approvals, and connecting with the ISTS power generated will be supplied to DISCOMs under a Power Purchase Agreement (PPA) through SECI. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 아침마다 뒷목 땡긴다면 99% '이것' 때문 생활 건강 꿀팁 공유 더 알아보기 Undo 'This project win gives a big push to our goal of playing a key role in supporting India's transition to clean energy and assisting the country achieve its renewable energy target of 500 GW by 2030,' said a company spokesperson. Earlier, Jindal India Renewable Energy (JIRE) won two major 300 MW solar plus storage projects from state-owned SJVN and another from NHPC . Live Events To meet the ambitious target of achieving 500GW by 2030, the Centre is eyeing adding 50GW of renewable energy capacity addition per annum. India has logged threefold growth in its renewable power capacity in the last decade, with the installed green energy capacity reaching 232GW, including large hydro power plants, currently compared to 75.52GW capacity in March 2014, official sources told PTI. India has emerged as a global front runner in the renewable energy space as the tariff of the grid-connected solar power plants has gone down by 80 per cent to Rs 10.95 per unit (for 170MW at Neemuch). In March 2014, India's installed solar energy capacity was 2.82 GW, which has crossed 108GW now, recording multifold growth. Wind energy capacity has more than doubled to 51GW presently from 21GW in 2014.
Time of India
6 days ago
- Business
- Time of India
India registers 3-fold growth in renewable energy capacity to 232GW in last decade
India has logged threefold growth in its renewable power capacity in the last decade, with the installed green energy capacity reaching 232GW, including large hydro power plants, currently compared to 75.52GW capacity in March 2014, official sources said. India has emerged as a global front runner in renewable energy space as the traiff of the grid-connected solar power plants has gone down by 80 per cent to Rs 10.95 per unit (for 170MW at Neemuch), sources said. In March 2014, India's installed solar energy capacity was 2.82 GW, which has crossed 108GW now, recording multifold growth. Wind energy capacity has more than doubled to 51GW presently from 21GW in 2014. Sources mentioned that during the UPA regime, India was almost absent in the solar manufacturing scene, with a meagre 2GW of solar module production in 2014. In 2024, India has transformed into a global leader, with solar module manufacturing skyrocketing to 90GW and by 2030, the nation will reach an impressive 150GW, they said. In 2014, India had almost zero domestic production of solar cells and wafers, which was a stark failure of the previous government's policy, official sources said. Today, India has built a strong foundation with 25GW of solar cell production and 2GW of wafer production. India has planned solar cells and wafer capacity of 100GW and 40GW respectively by 2030, which is aimed at reducing dependence on imports and becoming a self-sustaining power house. Even in fully integrated production, the country has reached 3.2GW in 2024, with a target of 24GW by 2030. Similarly, the biopower generation capacity has increased by 42 per cent from 8.1GW to 11.5GW over the last 10 years. Compressed Biogas (CBG) sector expanded from a single project with 8 tonnes per day (TPD) CBG generation capacity in 2014 to 150 projects with a cumulative capacity of 1,211 TPD in 2024. The PM-Surya Ghar Muft Bijli Yojana , has gained significant traction, benefitting almost 13.3 lakh households, with nearly 12 lakh installation in the past 10 months, sources stated. India has added a record 25GW of renewable energy capacity in 2024, which is 34.63 per cent higher than 18.57 GW achieved in the previous year. India has set an ambitious target of having 500GW of renewable energy capacity by 2030, which requires the addition of about 50GW of green capacity per annum in the next five to six years, they stated. Four renewable energy implementing agency (REIA), SECI, NTPC , NHPC and SJVN , have collectively issued RE power procurement tenders of around 44GW in fiscal year 2024-25. Earlier in April, India became the world's third-largest producer of electricity from wind and solar energy in 2024, overtaking Germany.
