Solar Energy Corp. of India Ltd. announced on Monday that it signed a memorandum of understanding with the government of Madhya Pradesh to develop a 200-megawatt solar project in Dhar and a 1,000-megawatt-hour battery storage facility in the state.
The MoU was signed at the Global Investors Summit 2025 in Bhopal, which Prime Minister Narendra Modi inaugurated in the presence of Madhya Pradesh Governor Mangubhai Chhaganbhai Patel and Chief Minister Mohan Yadav.
The 200 MW solar project is part of a broader 500 MW agreement signed in 2023 with MP Power Management Co. Ltd. for a 25-year supply contract.
SECI, a state-run entity under the Ministry of New & Renewable Energy, has proposed a phased investment of ₹25 billion ($300 million) to expand renewable energy projects in Madhya Pradesh.
SECI Director Sivakumar Vepakomma and Additional Chief Secretary Manu Srivastava signed the agreement in the presence of Madhya Pradesh’s Minister of New & Renewable Energy, Rakesh Shukla, and SECI Chairman and Managing Director RP Gupta.
Bids for 500 MW ISTS-Connected Solar Projects
Early this month, SECI invited bids to develop 500 MW of interstate transmission system-connected solar power projects under Tranche XIX. The deadline for bid submissions is March 17, 2025, with bid openings scheduled for March 20.
The eligibility criteria mandate a minimum net worth of ₹9.42 million per MW of quoted capacity and an annual turnover of at least ₹4.53 million per MW over the past three years. Developers must also secure a line of credit worth at least ₹1.13 million per MW.
SECI’s last auction, Tranche XVIII, saw ReNew Solar Power, ACME Solar Holdings, and Adani Renewable Energy Holdings Twelve secure contracts to develop 1,000 MW of ISTS-connected solar projects.
Green Hydrogen Push
In a move to support green hydrogen development, SECI signed an MoU last November with Germany-based H2Global Stiftung. The agreement aims to facilitate knowledge exchange and foster cooperation between India and importing nations, positioning India as a global hub for green hydrogen exports.
India will explore joint tender mechanisms through this collaboration and gain insights into international hydrogen market dynamics, trade logistics and stakeholder engagement.
