SECI’s 1000 MW ISTS Solar Auction Results: Daily News Update

Solar Energy Corporation of India (SECI) recently held an auction to develop 1,000 MW of interstate transmission system-connected solar power projects, and the results are in! ReNew Solar Power, ACME Solar Holdings, and Adani Renewable Energy Holdings Twelve emerged as the winners, with a total of 600 MW awarded. ReNew secured 250 MW at a tariff of ₹3.04 (~$0.0357)/kWh, while ACME won 300 MW at ₹3.05 (~$0.0358)/kWh.

According to Mercom India Research, a total of 14.5 GW of utility-scale solar installations were added in the first nine months of 2024. Gujarat led the way with 27% of the total installations during this period, showcasing a growing renewable energy share in its power mix, fueled by significant contributions from large standalone projects.

Moving on to rooftop solar, a total of 1.9 GW of rooftop solar capacity was installed in the first nine months of 2024. Gujarat again took the lead, accounting for 38.1% of the total installed capacity, showing a 15.8% year-over-year increase. The state’s success can be attributed to a high demand for residential solar installations and the presence of numerous installers.

In the wind energy sector, a total of 9.02 GW of tenders were floated in 2024. The largest wind tender was issued by NHPC to develop 1.2 GW interstate transmission system-connected wind power projects across six states.

On the regulatory front, the Central Electricity Regulatory Commission (CERC) issued an order addressing key issues related to the scheduling of infirm power and trial operations for renewable energy projects. The Appellate Tribunal for Electricity has directed the Assam Electricity Regulatory Commission to reconsider the tariff for a 5 MW solar project in Assam, emphasizing the need to align with regulatory norms and market benchmarks.

In the US, the energy storage sector saw significant growth in the third quarter of 2024, with 3.8 GW installed, an 80% increase compared to the same period in 2023. Texas and California were major contributors to this growth, with grid-scale installations hitting record highs.

Further, the American Active Anode Material Producers (AAAMP) has sought 920% tariffs on imports of graphite from China used in lithium-ion battery anode material. The petition aims to address ‘unfairly’ priced imports that have impacted the US market.

In the finance sector, SustVest raised $1.7 million in a pre-series A round to acquire solar projects and expand its sustainable investment platform. Meanwhile, ReNew Energy has entered into an agreement to sell a subsidiary operating a 300 MW solar project in Rajasthan.

These developments in the solar, wind, storage, regulatory, and finance sectors highlight the continued growth and innovation in the renewable energy industry. Stay tuned for more updates on the clean energy landscape!