ReNew, ACME, and Adani Secure Major Wins in ISTS Solar Power Auction – EQ
In Short : ReNew Power, ACME Group, and Adani Green Energy have emerged as major winners in recent ISTS solar power auctions conducted by SECI. ReNew secured 250 MW, ACME won 300 MW, and Adani obtained 50 MW, with competitive tariffs around ₹3 per kWh. These wins highlight their continued expansion in India’s growing renewable energy sector.
In Detail : ReNew Power, ACME Group, and Adani Green Energy have successfully secured substantial capacities in the recent ISTS-connected solar power auction organized by the Solar Energy Corporation of India (SECI). These companies continue to strengthen their foothold in India’s renewable energy market, securing key projects that will contribute significantly to the country’s solar power goals.
In the auction, which involved 1,000 MW of solar capacity, ReNew Power emerged as the largest winner, securing 250 MW at a tariff of ₹3.04 per kWh. ACME Group was close behind, winning 300 MW at ₹3.05 per kWh, while Adani Green Energy acquired 50 MW at ₹3.10 per kWh. These competitive tariff rates demonstrate the aggressive pricing and strong demand for solar power in India.
The auction’s outcome reflects the ongoing competitiveness within India’s renewable energy sector, with major players like ReNew Power, ACME, and Adani Green Energy vying for a share of large-scale solar projects. These auctions are a key part of India’s strategy to scale up its renewable energy capacity and meet its ambitious climate targets.
In addition to the ISTS solar auction, these companies have also participated in other significant renewable energy auctions. For example, in the recent 1.2 GW wind-solar hybrid auction by NTPC, Adani Green Energy, ReNew Solar, and other players won bids, collectively securing 1,200 MW of capacity, further emphasizing their leadership in the sector.
These developments are crucial for India’s renewable energy goals, as the country looks to increase its capacity for clean energy. The involvement of leading companies in both solar and hybrid power projects is expected to accelerate the transition to renewable energy, contributing to a cleaner, more sustainable energy landscape.
With these successful bids, ReNew Power, ACME Group, and Adani Green Energy are well-positioned to continue expanding their portfolios and play a pivotal role in India’s renewable energy future. Their efforts align with India’s vision of reducing reliance on fossil fuels and increasing the share of renewable energy in its overall power generation mix.
