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Hero, Hexa, Sembcorp & Jindal Win SECI’s 1.2 GW RTC Renewable Energy Auction

May 28, 2025

Hero Solar Energy (Hero Future Energies), Hexa Climate Solutions, Sembcorp Green Infra, and Jindal India Power have emerged as winners in the Solar Energy Corporation of India’s (SECI) auction for 1.2 GW of round-the-clock (RTC) renewable power connected to the interstate transmission system (ISTS). The auction, floated in October 2024, awarded 420 MW of capacity: Hero and Hexa secured 120 MW and 100 MW at Rs5.06/kWh, while Sembcorp and Jindal won 50 MW and 150 MW at Rs5.07/kWh, respectively.

Winners are tasked with setting up the transmission network, identifying land, obtaining approvals, and deploying commercially established technologies including type-certified wind turbines. The power supply must commence within 24 months of signing the power purchase agreement (PPA). Projects must ensure a demand fulfilment ratio (DFR) of 80% annually, 75% monthly, and 90% during peak hours. Penalties for shortfalls include 1.5x the energy shortfall cost (monthly/annual) and 2.5x during peak hours, calculated at the PPA tariff.

Additionally, the developers can supply power beyond the contracted capacity to third parties or exchanges, with SECI having the option to purchase this excess at the PPA rate. The projects are expected to incorporate energy storage systems to meet RTC obligations and must interconnect at a minimum voltage of 220 kV.

This award follows SECI’s continued push for reliable and dispatchable clean energy, including a recent 4.125 MW solar project awarded to Multi Infrastructure & Engineering (MIEPL) at IIT Kharagpur in April.