BC Jindal Group has secured a 150 MW Round-the-Clock (RTC) project in the Solar Energy Corporation of India (SECI) reverse auction. This win, part of SECI’s 1,200 MW RTC tender, positions BC Jindal as a key player in the evolving dispatchable renewable energy space, where the ability to supply firm, round-the-clock power is crucial for grid stability.
Key Takeaways:
Tariff Competitiveness:
The awarded tariff of ₹5.07/kWh is competitive in the current market scenario, especially considering the challenges of RTC projects, which require a blend of renewable generation (solar, wind, hybrid) and storage solutions to meet firm power requirements. This reflects BC Jindal’s confidence in leveraging its technical and financial capabilities to manage complex projects.
Strategic Importance of RTC Projects:
RTC projects represent the future of India’s energy transition, as they bridge the gap between intermittent renewable sources and the need for reliable, continuous power supply. With DISCOMs demanding firm supply, such projects are critical for integrating higher shares of renewables into the grid without compromising stability.
Expansion into Energy Storage:
BC Jindal’s previous wins, including the 300 MW solar plus storage projects from SJVN and NHPC, showcase a strategic pivot towards hybrid and storage-integrated projects. The addition of battery energy storage systems (BESS) is pivotal in addressing peak demand and intermittency, and aligns with India’s broader push for 500 GW of non-fossil fuel capacity by 2030.
Manufacturing Integration:
The group’s plans to establish a 2 GW solar cell and module manufacturing facility in Maharashtra by September 2026 signal a vertical integration strategy — an effort to mitigate supply chain risks and reduce project costs by controlling upstream manufacturing capabilities. This move is in line with India’s ‘Atmanirbhar Bharat’ goals and the government’s PLI scheme for solar manufacturing.
Investment Commitment:
BC Jindal’s commitment to invest $2.5 billion in the renewable sector by 2030 demonstrates long-term confidence in India’s clean energy transition. The group’s plans to expand its operational renewable assets, funded through internal accruals and debt, show prudent financial planning aimed at sustainable growth.
Challenges and Risks:
Execution Risks: RTC projects are inherently complex, requiring effective integration of multiple technologies (solar, wind, storage) and robust grid connectivity. The onus is on BC Jindal to ensure timely project commissioning, especially given the tight timelines associated with SECI tenders.
Tariff Sustainability: While ₹5.07/kWh is competitive, it is higher than recent solar and wind tariffs, reflecting the added costs of firming power. BC Jindal must ensure operational efficiencies to maintain profitability, especially if DISCOMs push for lower tariffs in the future.
Grid Integration: As India’s grid evolves to handle higher renewable penetration, there are challenges related to transmission capacity, curtailment risks, and regulatory uncertainties, all of which could impact project viability.