Solar Energy Corporation Of India

The project was secured through SECI's Tranche XVII e-reverse auction held on December 9, 2024, at a winning tariff of Rs 3.53 ($0.0416) per kWh (kilowatt-hour)

Andhra Pradesh power distribution companies have decided to procure about 2,000 mw of power from SECI out of the total 7000 mw in demand for the agricultural sector for the next fiscal, as per the latest filing by these companies with the AP Electricity Regulatory Commission. The move comes weeks after the Solar Energy Corporation of India (SECI) agreement with Andhra discoms became controversial after the US charged Adani Group chairman Gautam Adani in a years-long scheme to allegedly pay USD 250 million bribe to Indian officials including those from Andhra, in exchange for favourable solar power contracts in 2021 when the YSRCP was in power. The allegation has been refuted by the Indian conglomerate. The opposition YSRCP has also dismissed the charges. According to the filings, Aggregate Revenue Requirement and Tariff Proposal for the Retail Supply Business for FY 2025-26 by Southern Power Distribution Company of AP Ltd (SPDCL), Eastern Power Distribution Company Of Andhra Pradesh

The Congress on Friday accused the Solar Energy Corporation of India (SECI) of favouring the Adani Group, alleging that Adani Green is not suffering one bit even though it is yet to supply a single unit of the contracted 3 gigawatts of electricity to Andhra Pradesh. Congress general secretary in-charge communications Jairam Ramesh said Adani Green Energy's solar power project has not supplied a single unit of power to Andhra Pradesh two months after the original schedule to supply 3,000 MW. "It is amazing that even though it has yet to supply a single unit of the contracted 3 gigawatts of electricity to Andhra Pradeshdespite the alleged ?1,400 crore bribe to secure the contractAdani Green is not suffering one bit, thanks to the Central Government," Ramesh said in a post on X. Adani will start supplying one-third of the promised amount to Andhra Pradesh seven months late, he said. "But Solar Energy Corporation of India (SECI) has permitted it to sell the power on power exchanges in

The Andhra Pradesh government was set to procure 7,000 MW of solar power from Adani Group through Seci aiming to supply cost-effective power to the agricultural sector

AGEL's plans to increase its capacity more than five-fold to 50 GW by 2030

State-owned Solar Energy Corporation of India (SECI) has inked an initial pact with H2Global Stiftung to establish a collaborative framework to promote Green Hydrogen initiatives. This aims to enhance knowledge exchange on market-based mechanisms and foster cooperation between India and importing countries, thereby contributing to the global advancement of the green hydrogen economy, according to an official statement. According to the statement SECI, under the Ministry of New and Renewable Energy, signed a Memorandum of Understanding (MoU) with H2Global Stiftung to establish a collaborative framework to promote Green Hydrogen initiatives. The collaboration offers India the opportunity to work on joint tender design concepts, particularly in structuring joint tenders that aligns with India's ambition to become export hub of green hydrogen and its derivatives. The cooperation may provide valuable insights into global hydrogen market dynamics, including trade logistics and stakeholde

Agency may weigh criminal proceedings against Anil Ambani-owned firm

SECI said on Wednesday that the bank guarantee submitted by the unit, Reliance NU BESS, was also fake

Shares of Reliance Power Ltd fell by 5 per cent on Friday as the company and Reliance NU BESS Ltd have been debarred from participating in Solar Energy Corporation of India Ltd (SECI) tenders for three years for allegedly submitting "fake documents". The stock tanked 4.99 per cent to Rs 41.47 -- its lower circuit limit -- on the BSE. On the NSE, shares of the firm dropped 5 per cent to hit the lowest trading permissible limit for the day at Rs 41.58. In a note, SECI said, "Based on the examination of documents submitted by Maharashtra Energy Generation, now known as Reliance NU BESS (for a project), it was discovered that as per the tender requirements, the endorsement of the Bank Guarantee against EMD (issued by a foreign Bank), as submitted by the Bidder, was fake." The issue is related to the RfS issued by SECI for setting up 1000 MW/2000 MWh Standalone BESS Projects under tariff-based competitive bidding. Since the above discrepancy was discovered subsequent to the e-reverse .

The tender was floated under Centre's Green Hydrogen Mission

With this, Adani Green now has tied up PPAs of 19.8 gigawatt (Gw). The balance in its 20.6 Gw locked-in portfolio is merchant capacity, the company said

JSW Energy has signed a power purchase agreement with Solar Energy Corporation of India Ltd (SECI) for wind projects totalling 300 MW. The PPA is signed for supply of power for a period of 25 years with a tariff of Rs 2.94 per kilowatt (KWh), JSW Energy said in a statement on Friday. "JSW Renew Energy Three, a wholly-owned step-down subsidiary of JSW Energy, has signed PPA with SECI for 300 MW ISTS-connected wind power projects awarded under SECI Tranche-XII," it said. The projects are located in Maharashtra and expected to be commissioned in next 24 months, the company said. The company has set a target to reach 20 GW capacity by 2030 and 10 GW by 2025. With a total locked-in capacity of 9.9 GW, JSW Energy is well placed to achieve its targets well ahead of time. In addition, the company has made a foray into energy storage space and has currently locked in 3.4 GWh of energy storage capacity by means of battery energy storage system and hydro pumped storage project.

The nation is accelerating project installations to hit a goal to have 500 gigawatts of clean energy generation capacity in 2030

Corporate funding in the global solar sector increased 11 per cent year-on-year (y-o-y) to USD 8.4 billion in January-March period of 2023, according to a Mercom Capital report. Corporate funding includes venture capital, debt and public market financing. "The investments in the solar sector bucked the trend in Q1 despite tough economic conditions. The Inflation Reduction Act in the US is a significant driver for investments in solar. The fundamentals are solid, driven by strong demand for the energy transition worldwide, especially in Europe and the United States," said Raj Prabhu, CEO of Mercom Capital Group. Total corporate funding into the solar sector in the first quarter of 2023 calender year came to USD 8.4 billion compared to USD 5.4 billion in the fourth quarter of 2022. Funding increased 11 per cent y-o-y compared to USD 7.5 billion raised in Q1 2022, the report said. During January-March 2023, global VC funding was at USD 2.1 billion in 18 deals, 75 per cent higher compa

India's non-fossil fuel-based power generation capacity was at 174.53 gigawatt (GW) at the end of December 31, 2022, Parliament was informed on Tuesday. The country's total power generation capacity, including 235.81 GW from the thermal base, was at 410 GW at the end of 2022, Minister for Power, New and Renewable Energy R K Singh said in a written reply to the Rajya Sabha. "So far, a total of 174.53 GW power generation capacity from non-fossil fuel-based energy resources has been installed in the country as on 31.12.2022," he said. The capacity includes 63.30 GW solar power, 46.85 GW large hydro, 41.93 GW wind power, 10.73 GW bio power, 4.94 GW small hydro power and 6.78 GW nuclear power. In another reply, the minister said 2,97,609 million units (MU) energy from various sources of renewable energy in the April-December period of 2022-23. At 1,37,903 MU, large hydro projects alone contributed 46.3 per cent to the total renewable energy generation during the said period, followed b

Energy storage system of 500 MW/1,000 MW means 500 MW of battery energy can provide power backup for two hours, giving total output of 1,000 MW

The state-run Solar Energy Corp. of India is seeking bids from solar manufacturers for 195 billion rupees of financial incentives, according to documents published on the agency's website

Adani Green Energy Limited has commissioned a 325-megawatt wind energy plant in Dhar district of Madhya Pradesh. With the commissioning of this plant, its operational generation capacity has increased to 6.1 gigawatt (GW), Adani Green Energy Limited (AGEL) said in a statement on Monday. "Adani Wind Energy MP One Private Ltd (AWEMP1PL), a subsidiary of AGEL, has commissioned a 324.4 MW wind power plant in Dhar, Madhya Pradesh," it said. The plant has two 25-year Power Purchase Agreements (PPAs) with Solar Energy Corporation of India (SECI), one for 274.4 MW energy and another for 50 MW power, at a tariff of Rs 2.83 per kwh (kilowatt hour). The newly commissioned plant will be managed by the Adani Group's 'Energy Network Operation Centre' platform, which provides technological assistance. In the statement, the company did not disclose any financial details of the project. According to industry estimates, to set up every 1 MW of solar capacity, an investment of over Rs 4.5 crore is

The power ministry's plan to become an intermediary in the sale of green power generation to states is only a limited solution to the larger problem facing state discoms

Gurgaon-based ReNew Power has raised a $1-billion project loan through external commercial borrowings, tying up with 12 international banks for the finance.