Punjab State Power Corporation Limited (PSPCL) has announced the results of its auction to procure 500 MW of solar power from projects located across India on a long-term basis.
SAEL Industries has secured 250 MW at a tariff of Rs 3.05 per kWh. Waaree Forever Energies, a subsidiary of Waaree Energies, and JLTM Energy India, a subsidiary of Technique Solaire, have won 100 MW and 50 MW, respectively, at a tariff of Rs 3.07 per kWh. MB Power (Madhya Pradesh), a subsidiary of Hindustan Power, has secured 100 MW out of the quoted 150 MW capacity at Rs 3.07 per kWh under the bucket-filling method. The tender was issued in January 2025.
PSPCL will enter into power purchase agreements with the selected developers for 25 years from the date of commencement of supply. The projects will be required to use commercially established and operational technologies to reduce implementation risks and ensure timely completion.