On May 8, 2020, Solar Energy Corporation of India (SECI) announced the winner of its tender for 400 MW of renewable power on a round-the-clock (RTC) basis. ReNew Power won the auction for the entire tendered capacity of 400 MW with a quoted tariff of Rs 2.90 per unit.
SECI set an annual escalation of 3 per cent on the quoted tariff up to the end of the 15th year of the contract. Therefore, the levelized tariff over the contract period could be between Rs 3.55/kWh to Rs 3.60/kWh depending on the power generated from the project and capacity utilization.
