New Delhi: Hero Future Energies (HFE), the renewable energy arm of the Hero Group, has secured a 120 MW project in the Solar Energy Corporation of India's (SECI) 1,000 MW Firm and Dispatchable Renewable Energy – Round-the-Clock (FDRE-RTC) auction. The project has been awarded at a tariff of Rs 5.25/kWh.
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The project will be developed through Hero Solar Energy. It will be integrated with an energy storage system, as required under SECI's FDRE-RTC tender.
It will be executed under a Power Purchase Agreement (PPA) with SECI. HFE said commissioning is expected within 24 months of PPA execution.
SECI floated the auction in March. It sought to procure 1,000 MW of FDRE-RTC power from ISTS-connected renewable energy projects paired with energy storage systems.
According to HFE, the 120 MW project will supply firm, round-the-clock renewable power. The company described it as a demonstration that clean energy can reliably meet baseload demand while offering a highly competitive tariff. HFE said the award builds on its earlier work with SECI.
"As India's energy landscape evolves, the ability to deliver reliable and sustainable renewable power will become increasingly important. This 120 MW project under SECI's FDRE RTC-V tender reflects our continued focus on developing solutions that can combine reliability, affordability and sustainability. We are pleased to build on our experience of working with SECI and look forward to delivering another project that supports India's net-zero ambitions," said Srivatsan Iyer, Global CEO, Hero Future Energies.
HFE said it has strengthened its position as a leading clean energy player over the past few years, through investments in hybrid renewable projects, battery energy storage systems and green hydrogen.
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The company reported a renewable energy portfolio of 7.2 GWp and 2.9 GWh of BESS. It said it is developing and operating solar and wind assets, with a growing focus on hybrid solutions, FDRE and storage-led offerings intended to improve reliability and grid responsiveness.
