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SAEL, Reliance, Sembcorp Among Winners in SJVN’s 1.2 GW Solar + 2.4 GWh Storage Tender

SAEL Industries, Reliance NU Energies, Sembcorp Green, Jindal India Renewable Energy, JBM Renewables, and Fastnote Biofuels (Hindustan Power) have emerged as winners in SJVN’s auction for developing 1,200 MW of interstate transmission system (ISTS)-connected solar power projects, integrated with 2,400 MWh of energy storage systems. The auction, floated in September 2024, aligns with India's push for renewable capacity firming through co-located storage.

SAEL, Jindal, Sembcorp, and JBM each secured capacities between 150–300 MW at a tariff of Rs3.32/kWh. Fastnote Biofuels won 100 MW at Rs3.33/kWh, while Reliance NU Energies secured 350 MW of its quoted 600 MW at the same rate under the bucket-filling method.

Projects can be based on crystalline silicon, thin-film, or CPV technologies and must use commercially established systems. Only projects not already tied to long-term PPAs or central/state schemes were eligible. Bidders could offer between 50 MW and 600 MW.

The auction reflects evolving regulatory norms, with the Central Electricity Authority mandating co-located storage for future solar bids. Although solar tenders dropped 53% YoY in Q1 2025, key agencies including NTPC, NHPC, SECI, and SJVN contributed 77% of the 50 GW FY25 target.