SECI: Selection of 1200 MW ISTS-connected Wind Power Projects in India (SECI-Tranche-XIX) – EQ

Summary:

—-

**1. Tender Objective & Timeline**
* **Purpose:** Selection of 1200 MW Inter-State Transmission System (ISTS)-connected Wind Power Projects in India.
* **Tender ID:** SECI/C&P/PP/120013/25-26.
* **Key Dates:**
* Bid Opening: 15.10.2025 (Techno-commercial)
* e-Reverse Auction (e-RA): 04.02.2026
* Letter of Award (LoA) Issued: 10.02.2026

**2. Auction Process & Shortlisting**
* **Initial Bids:** 16 bidders submitted financial bids for a total capacity of **3104 MW**, significantly oversubscribing the 1200 MW tender.
* **Shortlisting for e-RA:** Based on Clause 42 of the RfS, **15 bidders** (with tariffs ranging from ₹3.70/kWh to ₹4.60/kWh) were shortlisted for the e-Reverse Auction. One bidder (Iris Renewables Alpha Pvt Ltd with a ₹4.65 bid) was not shortlisted.

**3. Final Allocation & Winners (Post e-RA)**
* **Total Capacity Awarded:** **1200 MW** (as per tender size).
* **Successful Bidders (10 Companies):**
1. **K.P. Energy Limited:** 100 MW (₹3.67/kWh)
2. **Ganeko Three Energy Private Limited:** 180 MW (₹3.68/kWh)
3. **Waaree Forever Energies Private Limited:** 300 MW (₹3.68/kWh) *(Largest single allocation)*
4. **Opera Energy Private Limited:** 50 MW (₹3.68/kWh)
5. **Purvah Green Power Private Limited:** 250 MW (₹3.69/kWh)
6. **Vena Energy Aura Private Limited:** 124 MW (₹3.69/kWh)
7. **Refex Holding Private Limited:** 60 MW (₹3.69/kWh) *(Note: Bid 600 MW, Awarded 60 MW)*
8. **Torrent Green Energy Private Limited:** 30 MW (₹3.70/kWh) *(Note: Bid 300 MW, Awarded 30 MW)*
9. **Wyn Renewables Project 6 Private Limited:** 130 MW (₹4.14/kWh)
10. **Gentari Renewables India Castor One Private Limited:** 200 MW (₹4.15/kWh)

**4. Key Observations & Business Insights**
* **Aggressive Pricing:** The majority of the capacity (970 MW out of 1200 MW) was secured at a highly competitive tariff range of **₹3.67 – ₹3.69 per kWh**. This indicates intense price competition among developers.
* **Discovery vs. Final Tariff:** The final awarded tariffs (post-e-RA) are significantly lower than the initial financial bids. For example, bidders who initially quoted ₹4.19/kWh were ultimately awarded projects at ₹3.68/kWh after the reverse auction process.
* **Partial Allotments:** Due to the high competition and the 1200 MW ceiling, several bidders received only a fraction of their bid capacity:
* Refex Holding (bid 600 MW, awarded 60 MW)
* Torrent Green Energy (bid 300 MW, awarded 30 MW)
* ABC Cleantech (bid 250 MW, awarded 0 MW)
* Jindal India Power (bid 300 MW, awarded 0 MW)
* **High-Value Winners:** **Waaree Forever Energies** emerged as the biggest winner, securing 300 MW. **Purvah Green Power** and **Gentari Renewables** were also major winners with 250 MW and 200 MW respectively.
* **Exclusion of Lowest Bidders:** Despite quoting the lowest tariff (₹3.70/kWh) in the initial financial bid stage, **K.P. Energy Limited** did not receive the full 100 MW allocation in the final list, suggesting the final awards were based on the e-RA outcomes.

—

For more information please see below link: