ENGIE, NLC India, Rays Power Among Winners of SECI's 1.2 GW Solar Plus 3.6 GWh Storage Auction

Solar Energy Corporation of India (SECI) has successfully concluded its Tranche XXI auction, awarding contracts for 1,200 MW of interstate transmission system (ISTS)-connected solar projects integrated with 600 MW/3,600 MWh energy storage systems (ESS) to four companies. The tender, which was floated in June 2025, attracted competitive bids with tariffs ranging between ₹3.12 and ₹3.13 per kWh.

Auction Results and Winners

The auction results demonstrate strong participation from established renewable energy players, with capacity allocation varying significantly among winners.

Company	Capacity Won (MW)	Quoted Tariff (₹/kWh)	USD Equivalent
NLC India Renewables	600	3.12	$0.0346
RPIL Power Three (Rays Power Infra)	300	3.13	$0.0347
Engie Energy India	200	3.12	$0.0346
Oriana Power	100	3.13	$0.0347

NLC India Renewables emerged as the largest winner, securing 600 MW capacity, while Oriana Power won 100 MW under the bucket-filling method despite quoting for 300 MW.

Project Requirements and Specifications

The awarded projects come with comprehensive technical and operational requirements designed to ensure reliable power delivery during peak demand periods. Each project must be co-located with energy storage systems, with the ESS physically situated at the solar project sites. The minimum ESS requirement is set at 0.5 MW/3 MWh for each 1 MW of project capacity.

Key Technical Parameters

Parameter	Requirement
Commissioning Timeline	24 months from PPA effective date
Additional Delay Window	6 months
PPA Tenure	25 years
Annual Capacity Utilization Factor	19% to 30%
Peak Hour Energy Delivery	3,000 kWh per MW capacity
Minimum Continuous Supply	1 hour

The projects must maintain an annual capacity utilization factor between 19% and 30%, with the buying entity purchasing power for 6 hours during peak hours from 6 PM to 9 AM of the subsequent day.

Operational Flexibility and Compliance

Winners have been granted significant operational flexibility while maintaining strict compliance requirements. The ESS technology can be changed at any time during the power purchase agreement period, and projects can be set up with any storage technology in any location in India, provided ISTS connectivity is ensured.

The projects must use modules meeting domestic content requirements and adhere to the Approved List of Models and Manufacturers. Winners can supply up to 5% of their annual energy from power exchanges and bilateral agreements, providing additional revenue optimization opportunities.

Industry Context

This auction follows SECI's continued focus on solar-plus-storage projects, building on the success of previous tenders. In October 2025, eleven companies won SECI's Tranche XX auction to set up 2 GW of ISTS-connected solar projects along with 1 GW/4 GWh ESS, indicating strong market momentum for integrated renewable energy solutions.

The competitive tariffs achieved in this auction reflect the maturing solar-plus-storage market in India and the increasing cost-effectiveness of energy storage technologies. The projects are expected to contribute significantly to India's renewable energy capacity and grid stability objectives.

Source: https://www.mercomindia.com/engie-nlc-india-rays-power-among-winners-of-secis-1-2-gw-solar-plus-3-6-gwh-storage-auction

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.45%	-6.42%	-4.02%	-4.92%	+3.55%	+143.88%

Shipping Corporation of India Limited has announced a key senior management appointment, with Mr. Uttam Gharde taking charge as Deputy Chief Vigilance Officer (Dy. CVO) effective January 1, 2026. The company disclosed this information in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Appointment Details

The appointment was formalized through an internal order, with Mr. Gharde assuming responsibility for the Vigilance Division and joining the company's senior management structure. The company reported the event occurrence on January 9, 2026, at 10:45 hours.

Parameter:	Details
Name:	Mr. Uttam Gharde
Designation:	Deputy Chief Vigilance Officer (Dy. CVO)
Effective Date:	January 1, 2026
Reason for Change:	Internal Order - Taken charge of Vigilance Division
Event Date:	January 9, 2026 at 10:45 hours

Professional Background

Mr. Uttam Sadashiv Gharde brings extensive maritime expertise to his new role, with over 33 years of experience across multiple business verticals. His educational qualifications include a Bachelor's degree in Mechanical Engineering and Marine Engineer (MEO Class I) certification.

His career with SCI spans more than three decades, beginning when he joined as a Fifth Engineer Officer in August 1992. He commenced sailing operations on vessels from August 18, 1992, gaining hands-on experience in ship operations before transitioning to shore-based responsibilities on April 7, 2006.

Career Progression

Mr. Gharde's professional journey within the organization demonstrates steady advancement through various operational roles. His experience encompasses diverse areas including:

Maritime Training operations
Fleet Personnel management
Ship Operation oversight
Dry dock operation supervision
Repair bill settlement processes

He achieved a significant milestone in April 2019 when he was promoted to the position of Deputy General Manager, marking his continued growth within the organization's management hierarchy.

Regulatory Compliance

The appointment disclosure was made in accordance with SEBI regulations, specifically under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company also referenced compliance with the SEBI Master Circular dated November 11, 2024, ensuring full regulatory adherence in announcing this senior management change.