The Solar Energy Corporation of India (SECI), acting in its capacity as an Intermediary Nodal Agency, has finalized the auction for its 1,000 MW Firm and Dispatchable Renewable Energy (FDRE) Round-the-Clock (RTC) power tender (SECI-FDRE-RTC-V). Floated in March 2026, the competitive bidding process resulted in a discovered L1 tariff of ₹5.25/kWh. The auction was structured to procure power from ISTS-connected renewable energy projects integrated with mandatory Energy Storage Systems (ESS) to provide a reliable, demand-following generation profile.
Auction Breakdown and Awarded Capacity
The e-reverse auction concluded with a total of seven developers securing capacity. Notably, Juniper Green Energy’s 230 MW allocation is slated for implementation in Rajasthan, where it will be connected to the National Grid.
| Developer | Awarded Capacity (MW) | Winning Tariff (₹/kWh) |
| Kengeri Prime Solar Power (Rays Power Infra) | 180 | 5.25 |
| Resolven Four Energy (Resolven) | 150 | 5.25 |
| Hero Solar Energy (Hero Future Energies) | 120 | 5.25 |
| EMIF II Holding V II Coöperatief W.A (EMIF Group) | 100 | 5.25 |
| Purvah Green Power (RPSG Group) | 70 | 5.25 |
| Hexa Climate | 150 | 5.26 |
| Juniper Green Energy | 230 | 5.26 |
Upon the conclusion of the bidding, Juniper Green Energy secured 230 MW out of a quoted 300 MW via the “bucket-filling” method, which SECI utilizes to finalize the awarded capacity once the cumulative limit is reached. Commercially, selected developers are required to pay Success Charges of ₹1 Lakh/MW (plus 18% GST). Additionally, developers have the option to provide a discount of ₹0.02/kWh in monthly tariff payments to avail of SECI’s Payment Security Mechanism (PSM).
Strict Operational Requirements and Demand Fulfillment Ratios (DFR)
The FDRE configuration is designed on a “demand-following” basis, requiring the Renewable Power Developer (RPD) to match a specific load profile provided by the off-taker for 96 time-blocks (15-minute intervals) for a representative day of each month.
RPDs must adhere to the following Demand Fulfillment Ratios (DFR):
- Peak Hours: Minimum DFR of 90 percent in each time-block.
- Solar Hours: Minimum DFR of 50 percent and maximum DFR of 60 percent in each time-block.
- Remaining/Non-Solar Hours: Minimum DFR of 70 percent in each time-block.
To enforce these reliability metrics, any shortfall in the monthly average DFR will attract a significant commercial penalty. The developer will be liable to pay a penalty equal to 1.5 times the cost of the energy shortfall, calculated at the applicable PPA tariff.
Technical Configuration and Grid Interconnection
The technical scope mandates that RPDs establish ISTS-connected projects with integrated Energy Storage Systems (ESS). The RPD is responsible for the identification and procurement of land, as well as the operationalization of General Network Access (GNA).
While projects are typically designed for interconnection with the Inter-State Transmission System (ISTS) substation at a voltage level of 220 kV or above, the tender allows for STU/InSTS interconnection voltage levels as determined by the concerned State Regulations if the project is located in the same state as the off-taker. The tender remains technology-agnostic, allowing for any combination of Solar PV, Wind, and other RE sources integrated with storage to effectively mimic the dispatchability of thermal generation.
Power Off-Take and PPA Terms
SECI serves as the Intermediary Procurer, facilitating the sale of power to the designated buying entity, the Punjab State Power Corporation Limited (PSPCL).
The commercial relationship is governed by a Power Purchase Agreement (PPA) with a tenure of 25 years from the Scheduled Commencement of Supply Date (SCSD). The SCSD is set at 24 months from the Effective Date of the PPA.
Compliance and Project Milestones
Successful bidders must navigate several critical regulatory and project milestones following the award:
- PPA Execution: Signing of the PPA must occur within 60 days of the issuance of the Letter of Award (LoA).
- Financial Closure: Developers must demonstrate 100% tie-up of project financing at least 6 months prior to the SCSD.
- Manufacturing Compliance: All projects must strictly adhere to the “Approved Models and Manufacturers of Solar Photovoltaic Modules” (ALMM) and the “Revised List of Models and Manufacturers” (RLMM) for wind turbines.
Part-commencement of the power supply is permitted by SECI, provided the initial and any subsequent segments meet a minimum capacity threshold of 50 MW.
Official Sources and Citations
1. Solar Energy Corporation of India Limited (SECI) Request for Selection (RfS) Document for Selection of RE Power Developers for Supply of 1000 MW Firm and Dispatchable Power from ISTS-connected Renewable Energy (RE) Power Projects in India, under Tariff-based Competitive Bidding (SECI-FDRE-V).
- RfS Number: SECI/C&P/IPP/13/0014/23-24 (Dated: 28.11.2023)
- Official Website: www.seci.co.in
- Official Tender Portal: ISN-ETS Portal (Bharat Electronic Tender)
2. Hero Future Energies (Official Corporate Channel) Official Announcement: Hero Future Energies secures 100 MW capacity under SECI’S ISTS-connected FDRE 4 – 630 MW load tender.
- Publication Date: August 2026
- Source Link: Hero Future Energies Official Statement
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