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CERC Approves Tariffs for SECI’s 600 MW Wind-Solar Hybrid Projects, Holds Trading Margin in Abeyance

The Central Electricity Regulatory Commission (CERC) has approved tariffs of Rs3.25/kWh and Rs3.26/kWh for the Solar Energy Corporation of India’s (SECI) 600 MW wind-solar hybrid power projects under Tranche IX. However, the Commission did not approve the requested trading margin of Rs0.07/kWh, citing that the awarded capacity is yet to be tied up with distribution licensees. The trading margin will instead be determined based on future power sale agreements (PSAs).

The 600 MW capacity—enhanced from an original 400 MW tender—was awarded to Juniper Green Energy (150 MW at Rs3.25/kWh), Acme Solar Holdings (300 MW at Rs3.25/kWh), and Sembcorp Green Infra (150 MW at Rs3.26/kWh). While the discovered tariffs are higher than those of Tranche VII (Rs3.15–Rs3.21/kWh), CERC granted approval, noting no deliberate delay in SECI’s petition filing.

CERC emphasized that if SECI fails to provide financial security mechanisms such as an escrow account or revolving letter of credit, the trading margin would be capped at Rs0.02/kWh. The Commission has asked SECI to notify it when the awarded capacity is backed by signed power purchase agreements (PPAs) and PSAs, or in the event such agreements are not executed.

In contrast, in February 2025, CERC had approved higher tariffs between Rs4.64 and Rs4.73/kWh with a full Rs0.07/kWh trading margin for SECI’s 1,200 MW hybrid projects, underscoring the importance of firm offtake arrangements in determining trading margins.