Powerica Wins 50 MW Wind Energy Project From SECI

The Solar Energy Corporation of India (SECI) recently announced power generation company Powerica as the winner of its 50 MW auction out of the total 500 MW wind project. The company secured the project at a tariff rate of ₹3.81 per unit. The initial tender was intended for a 500 MW project. However, SECI has declared Powerica as the sole winner of this project. The tender for this project was launched on 29th May earlier this year.

The discovered tariff was however on the higher side, compared to the recent few wind tenders. SECI allocated the 50 MW project to Powerica at Rs 3.81 per unit. However, some of the recent wind energy tenders saw a tariff ranging from Rs 3.61 per unit to Rs 3.70 per unit. For example–SECI awarded a tariff for its previous 1,350 MW wind energy tender in Gujarat, which was allocated earlier this year at a lower rate. As per the tender result, Powerica received a 50 MW project at ₹3.70 per unit.

In its erstwhile 1,350 MW wind energy tender, SECI also awarded bids to other companies like JSW Neo Energy and Torrent Power. This tender, for ISTS-connected wind power projects under Tranche XVI, covers wind projects in Gujarat, Karnataka, and Rajasthan. Released on 30th November 2023, the results were announced nearly eight months later.

For projects in Gujarat, JSW Neo Energy (JSW Energy) and Powerica emerged as winners with allocations of 700 MW and 50 MW, respectively. JSW bid ₹3.61 per unit for its allocation, while Powerica won 50 MW with a bid of ₹3.70 per unit. Torrent Power, based in Gujarat with a significant presence in distribution and generation, secured a 100 MW project in Karnataka at an aggressive tariff of ₹3.60 per unit.

Torrent’s Karnataka win was also on the lower segment, while JSW Energy also received an additional 325 MW allotment in Karnataka at ₹3.68 per unit, including a 175 MW greenshoe option which matched Torrent’s ₹3.60 per unit bid. The 1,350 MW projects are to be developed at ISTS substations across Gujarat, Karnataka, and Rajasthan. The maximum capacity allocations across these three states are as follows: Gujarat will receive 1,000 MW, Karnataka 250 MW, and Rajasthan 100 MW. SECI allocated this project with an additional capacity of up to 700 MW under the ‘Greenshoe Option,’ which provided a breakdown of the additional capacities among the states. Gujarat was awarded an additional 500 MW, while Karnataka and Rajasthan received 150 MW and 50 MW, respectively.