New Delhi: Renewable energy company Serentica Renewables has signed a Power Purchase Agreement with the Solar Energy Corporation of India (SECI) to supply electricity from a 600 MW Firm and Dispatchable Renewable Energy (FDRE) project, the company said in a statement on Tuesday.
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The company secured the highest allocation among all bidders in the SECI auction, making it the largest awardee under the tender. The PPA covers a 600 MW (2400 MWh) allocation under SECI's FDRE VII Assured Peak tender, a development the company described as a key milestone in the project's implementation.
FDRE VII carried a total tendered capacity of 4,800 MWh, placing it among India's most advanced and technically complex renewable energy procurement frameworks, according to the statement.
The tender's Assured Peak structure sets it apart from conventional renewable energy tenders by requiring power offtake exclusively during non-solar hours. This is aimed squarely at addressing the country's rising evening peak demand and strengthening grid reliability.
The project is estimated to generate around 975 million units of renewable energy every year, while helping avoid over 1 million tonnes of carbon emissions annually, the statement said. The win takes Serentica's utility-scale portfolio past 8.7 GWp of renewable capacity.
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Akshay Hiranandani, CEO of Serentica Renewables, said, "The signing of the PPA marks an important milestone in translating our successful bid into execution."
