Solar Energy Corporation of India’s (SECI) auction for setting up 1,500 MW/12,000 MWh Pumped Storage Plants (PSPs) has discovered an L1 tariff (lowest bid) of INR 1,08,41,826/MW/year.

Greenko Energies has secured 720 MW at a tariff of INR 1,09,67,47/MW/year. Torrent Energy Storage Solutions has bagged 300 MW at a tariff of INR 1,09,75,60/MW/year. Tata Power Company has been awarded 324 MW out of the quoted 660 MW at a tariff of INR 1,08,41,826/MW/year.

The tender for this was floated in December 2025 for a capacity of 1,000 MW/8,000 MWh, which was later increased to 1,500 MW/12,000 MWh.

The tender document mandates the installation of GPS-enabled Automatic Weather Stations at project sites, with data availability to be ensured in line with requirements of the appropriate Load Dispatch Centre and the Indian Electricity Grid Code. Developers must also comply with prescribed performance benchmarks and cybersecurity regulations issued by central government authorities.