Post by VYQON Research Private Limited

Market Update | SECI Seeks Offtakers for 8.58 GW of Awarded ISTS Renewable Energy; Tariffs ₹2.42–₹8.10/kWh; DISCOM PSA Sign-Off Lag Persists The Solar Energy Corporation of India Limited (SECI) is yet to find offtakers for a significant volume of renewable energy capacity across multiple ISTS-connected auction tranches, with the total stranded awarded capacity standing at 8.58 GW; tariffs for the available projects range from ₹2.42/kWh to ₹8.10/kWh. Key details: → Root cause: hedging by distribution companies (DISCOMs) to sign Power Sale Agreements (PSAs) with SECI in light of the trend of falling tariffs is among the primary reasons for the large volume of stranded awarded capacity → Stranded capacity by segment (key positions): → Manufacturing-linked solar (Tranche VII, 7 GW auction): 2,366 MW; 250 MW from Azure Power at ₹2.54/kWh; 317 MW Azure Power India and 1,799 MW Adani Green Energy Ltd. Four, each at ₹2.42/kWh capacity has been pending since this auction was held in January 2020 → ISTS Tranche XX Solar+BESS (2 GW auction): 1,700 MW stranded including 600 MW SHIVALAYA CONSTRUCTION LIMITED, 300 MW Purvah Green Power, 150 MW MB Power, 80 MW Stockwell Solar, 50 MW each Oswal Cables and LC Infra Projects Private Limited, all at ₹2.86/kWh; 300 MW SAEL, 50 MW GH2 Solar, 120 MW Navayuga Green Energy at ₹2.87/kWh → ISTS Tranche XXI Solar+BESS (1.2 GW auction, January 2026): entire 1,200 MW stranded 600 MW NLC India Renewables + 200 MW Engie India at ₹3.12/kWh; 300 MW RPIL Power Three + 100 MW Oriana Power at ₹3.13/kWh → ISTS Tranche XV Solar+BESS: 500 MW from JSW Neo Energy at ₹3.42/kWh stranded since July 2024 → Wind-solar hybrid Tranches VIII and IX: 1,200 MW stranded; Tranche VI hybrid + BESS: 410 MW at ₹4.64–4.72/kWh → FDRE Tranche VI: 200 MW from Altra Xergi Power at ₹8.10/kWh; FDRE Tranche VII: 899 MW available including Serentica 600 MW + AMPIN 199 MW at ₹6.28/kWh → Progress since March: since its last listing of unsold capacity in March 2026, SECI has found takers for 425 MW indicating the offtaker gap is closing but slowly → Systemic significance: SECI is now India's sole REIA mandated to bid out 50 GW annually until FY2027-28; the growing PSA backlog despite competitive tariffs across all segments signals that DISCOM procurement timelines, RPO enforcement, and MoP coordination mechanisms need strengthening → SECI trading margin of ₹0.07/kWh applies to all discovered tariffs in addition 📌 Full article: https://lnkd.in/dUN67edW Ministry of Power Govt of India MNRE India #SECI #OffTakers #RenewableEnergy #ISTS #SolarEnergy #BESS #FDRE #DISCOMs #PowerMarket #India