Petition for the Adoption of tariff for 420 MW RTC power from ISTS-connected RE Power Projects (SECIRTC- IV) by the Ministry of Power, Government of India -EQ
Summary:
—
## **1. Parties Involved**
* **Petitioner:** Solar Energy Corporation of India Ltd. (SECI)
* **Respondents:**
1. Hero Solar Energy Pvt. Ltd.
2. Hexa Climate Solutions Pvt. Ltd.
3. Sembcorp Green Infra Pvt. Ltd.
4. Jindal India Power Ltd.
—
## **2. Purpose of Petition**
SECI petitioned under **Section 63 of the Electricity Act, 2003** seeking:
1. **Adoption of tariff** discovered through competitive bidding for **420 MW RTC power**.
2. **Approval of trading margin** of **₹0.07/kWh** payable by distribution companies.
—
## **3. Bidding Summary & Process**
* SECI issued **RfS on 28 Oct 2024** for **1200 MW RTC (SECI-RTC-IV)**.
* Five bids (540 MW) were received; all qualified.
* **Financial bids opened:** 26 May 2025
* **E-Reverse Auction:** 26 May 2025
* **Letters of Award issued:** 11 June 2025
* **Awarded capacity:** **420 MW**
### **Tariffs & Awarded Capacities**
| Successful Bidder | Capacity (MW) | Tariff (₹/kWh) |
| ——————————– | ————- | ————– |
| Hero Solar Energy Pvt. Ltd. | 120 | **5.06** |
| Hexa Climate Solutions Pvt. Ltd. | 100 | **5.06** |
| Sembcorp Green Infra Pvt. Ltd. | 50 | **5.07** |
| Jindal India Power Ltd. | 150 | **5.07** |
—
## **4. Key Findings of Bid Evaluation Committee**
* Tender is **first-of-its-kind RTC** with **stringent performance conditions**, including:
* **Monthly DFR ≥ 75%**, **Annual DFR ≥ 80%**
* **Peak Hours DFR ≥ 90%**
* Compared with SJVN FDRE-3 tender (₹4.82–4.91/kWh), RTC-IV has **higher firmness obligations**, **stricter dispatchability**, and **higher storage requirements**, justifying slightly higher tariffs (₹5.06–5.07/kWh).
* Tariff is **reasonable, competitive, and aligned with market conditions**.
—
## **5. CERC’s Observations**
* Bidding process was **transparent** and **fully compliant** with MoP Guidelines.
* SECI followed all required procedures including publication, evaluation, reverse auction, and issuance of LoAs.
* Tariff discovered through competitive bidding is valid for adoption under **Section 63**.
—
## **6. CERC Order**
### **A. Tariff Adoption**
CERC **adopts the tariffs** for the awarded 420 MW as per LoAs.
### **B. Trading Margin**
* Trading margin of **₹0.07/kWh** is allowed **subject to PSA provisions**.
* If SECI fails to provide **escrow or LC**, trading margin is **capped at ₹0.02/kWh** under Trading Licence Regulations.
### **C. Further Requirements**
* SECI must submit **signed PPAs and PSAs** once executed.
* If awarded capacity fails to materialize into PPAs/PSAs, SECI must report back to the Commission.
—
## **7. Final Decision**
The petition is **disposed of**, with tariffs adopted and trading margin conditions clarified.
—
For more information please see below link:
