BusinessLine reported that India's latest round-the-clock (RTC) renewable energy bid has discovered a tariff of ₹5.25 per unit, according to Santosh Sarangi, Secretary of the Ministry of New & Renewable Energy (MNRE). Speaking at the CII International Energy Conference and Exhibition (IECE) on Friday, Sarangi said the tariff demonstrates the growing competitiveness of the domestic renewable energy sector. The state-run Solar Energy Corporation of India (SECI), the renewable energy implementing agency, conducted the bidding.
Tariff Discovery: 90% Assured Power, Solar at 50%
BusinessLine reported that the latest RTC RE bid provides for 90 per cent assured power availability in each time block, with solar accounting for only 50 per cent of supply during the daytime. Sarangi said the tariff demonstrates the growing competitiveness of renewable energy and developers' ability to integrate solar, wind, and storage technologies to provide reliable power.
| Parameter | Value |
|---|---|
| Discovered RTC RE tariff | ₹5.25 per unit |
| Assured power availability | 90% per time block |
| Solar share of daytime supply | 50% |
| Bidding agency | Solar Energy Corporation of India (SECI) |
| India's installed renewable capacity | 300+ GW |
| Solar module manufacturing capacity | 213+ GW |
| Solar cell manufacturing capacity | 32+ GW |
| Wind manufacturing indigenisation | ~85% |
| PM Surya Ghar household installations | 50+ lakh |
We expected the price to be very high, but thanks to the competitive spirit among our developers, we discovered a rate of ₹5.25 per unit for RE RTC. — Santosh Sarangi, Secretary, MNRE
India's Record: 300 GW Installed, 500 GW Target
According to BusinessLine, India has crossed 300 gigawatts (GW) of renewable energy installations and is on course to achieve the Prime Minister's target of 500 GW of non-fossil fuel capacity by 2030. Sarangi attributed this progress to three key pillars:
- Policy certainty
- Domestic manufacturing
- Market-creation initiatives
Highlighting India's growing renewable energy manufacturing ecosystem, Sarangi noted:
- More than 213 GW of solar module manufacturing capacity
- Over 32 GW of solar cell manufacturing capacity
- Around 85 per cent of wind energy manufacturing indigenised
He also highlighted the rapid expansion of decentralised renewable energy, noting that PM Surya Ghar has crossed 50 lakh households and is progressing towards its target of one crore rooftop solar installations.
Cross-Border Integration: One Sun, One World, One Grid
On cross-border energy cooperation, BusinessLine reported that Sarangi stressed that regional energy integration requires both physical infrastructure and compatible regulatory systems.
"When we talk of cross-border energy trade, we are not talking merely of the hardware of putting wires, putting transformers, substations, or undersea cables; it is equally important to talk of the software relating to cross-border energy transmission," Sarangi added, as quoted by BusinessLine.
He also highlighted the potential of the One Sun, One World, One Grid vision to enable countries across different time zones to complement one another by sharing renewable energy.
At the same session, 'Beyond Borders: The Future of Shared Energy Systems', Anura Karunathilake, Sri Lanka's Minister of Energy, pitched an integrated South Asian power market. BusinessLine reported that Karunathilake said Sri Lanka's Electricity Act provides for the facilitation and promotion of a national electricity market, with cross-border electricity trading becoming a realistic possibility as the market matures.
Referring to the proposed India-Sri Lanka grid interconnection, Karunathilake said, "The future of energy in our region should not simply be about creating electricity. It should be about creating a resilient, interconnected, and competitive regional electricity market that accelerates the clean energy transition, strengthens energy security, and promotes sustainable economic growth for all our nations."
Karunathilake called for a regional approach beyond bilateral interconnections, noting that connecting solar and wind resources across countries with Bhutan's hydropower could improve system reliability, reduce the need for costly national reserves, and deliver more affordable electricity. He emphasised that thoughtful planning, sound regulations, mutual trust, and harmonised regulatory frameworks would be essential to building an integrated South Asian energy market, BusinessLine reported.
For commodity and electricity buyers tracking India's power market, the discovered ₹5.25 per unit RTC tariff provides a concrete benchmark for round-the-clock renewable contracts with 90 per cent assured power availability, reflecting the integration of solar, wind, and storage technologies highlighted by the MNRE Secretary.
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