Juniper Green Energy wins 230 MW SECI FDRE deal at ₹5.26

What SECI awarded and why it matters

Juniper Green Energy has received a Letter of Award (LOA) from Solar Energy Corporation of India (SECI) for a 230 MW contracted capacity Firm and Dispatchable Renewable Energy round-the-clock (FDRE-RTC) project. The company disclosed the award in a stock exchange filing, noting that the LOA is dated August 14, 2026. The project is designed to supply renewable power on a firm, schedulable basis, a structure that typically demands tighter operational performance than conventional solar or wind-only supply.

The award is part of SECI’s 1 GW Round-the-Clock Thermal Mimic (RTC-TM) tender, where the full capacity was finalised across seven bidders. Tariffs discovered in the tender ranged from ₹5.25/kWh to ₹5.26/kWh. For investors tracking India’s evolving renewable procurement, these results are a reference point for pricing and the tightening requirements around firm delivery.

Key LOA details from Juniper’s stock exchange filing

According to the filing, Juniper Green Energy will set up a 230 MW FDRE-RTC project connected to India’s Inter-State Transmission System (ISTS). The scope of the order includes construction, commissioning, and operations of the project. The company said the project is to be executed within 24 months from the effective date of the Power Purchase Agreement (PPA) to be signed with SECI.

The PPA term is stated as 25 years from the commercial operations date. Juniper also disclosed that the project has a contracted capacity of 230 MW and a tariff of ₹5.26 per unit. The company clarified that the award is from a domestic entity, relates to development of the FDRE-RTC project in India, and does not involve promoter or promoter group interest in SECI. It also said the order does not fall under related-party transactions.

How the 1 GW SECI RTC-TM tender was allocated

SECI finalised the results of its 1 GW RTC-TM tender, awarding the full capacity to seven bidders. Reported tariffs ranged from ₹5.25/kWh to ₹5.26/kWh (also cited as US$1.055/kWh). Juniper Green Energy secured 230 MW at ₹5.26/kWh, described as the largest allocation in the tender.

At the same ₹5.26/kWh level, Hexa Climate Solutions was awarded 150 MW. At the ₹5.25/kWh level, reported winners and allocations included Emif II Holding V II Cooperatief (100 MW), Hero Solar Energy (120 MW), Purvah Green Power (70 MW), and Resolven Four Energy (150 MW). The remaining 180 MW allocation was reported as awarded to Rays Power Infra Limited in one account, while another identified Kengeri Prime Solar Power for 180 MW.

Why Juniper got 230 MW after bidding for 300 MW

Juniper had bid for 300 MW but received 230 MW under the tender’s “bucket-filling mechanism”, as described in the tender reporting. The tender outcome indicates that allocation is not purely a function of the maximum volume a developer offers, but also of how SECI distributes capacity within tariff buckets under its defined rules.

Juniper said the 230 MW win would be supported by a 25-year PPA with SECI. The tender reporting also stated that the Letter of Award was expected to be issued in line with the tender schedule, which aligns with Juniper’s subsequent disclosure that the LOA is dated August 14, 2026.

Delivery obligations under SECI’s DFR framework

The project will be required to meet SECI’s Delivered Firm Round-the-Clock (DFR) requirements. These include minimum delivery thresholds specified in the tender reporting: at least 90% delivery during designated peak hours, 50% to 60% during solar hours, and 70% during non-solar, non-peak hours. Such delivery ratios are central to the FDRE-RTC structure because they define the performance standard for dispatchable renewable supply.

Juniper also indicated the project will combine solar, wind and battery energy storage system (BESS) technologies to ensure consistent and reliable power delivery. This combination is typically used in RTC structures to smooth variability and align output with hourly demand profiles.

Timelines: SCOD, execution window, and contract tenure

Across the filing and tender reporting, two timeline markers are consistent. The scheduled commercial operation date (SCOD) is set at 24 months from the effective date of the PPA. Juniper’s filing similarly states the project is to be executed within 24 months from the PPA effective date.

The PPA tenure is 25 years from the commercial operations date. For a contracted RTC-style project, the long tenure and fixed tariff provide visibility on contracted cash flows, while compliance with DFR requirements becomes the key operating constraint.

Stock market reaction on the day

Juniper Green Energy shares traded at ₹251.50 on the BSE, up 0.42% on Friday, as reported in the update tied to the filing. The disclosure also reiterated that the award is not a related-party transaction, addressing a standard governance disclosure point for listed companies.

Snapshot table: what is confirmed

Why the outcome is important for India’s RTC renewables market

SECI’s tender outcome reinforces that RTC-style renewable supply is being procured at a narrow tariff band of ₹5.25 to ₹5.26 per kWh in this round. It also highlights how SECI is using delivery-based standards such as DFR to define what “round-the-clock” means in operational terms, rather than treating it as a generic label.

For developers, the requirement to deliver 90% during peak hours and maintain defined minimums across solar and non-solar periods increases the importance of portfolio design and operations. Juniper’s stated use of solar, wind and BESS aligns with the technical needs implied by these delivery ratios.

Conclusion

Juniper Green Energy’s August 14, 2026 LOA from SECI secures a 230 MW ISTS-connected FDRE-RTC project at ₹5.26 per unit, backed by a 25-year PPA and a 24-month schedule from the PPA effective date. The award places Juniper as the largest single allocation holder in SECI’s 1 GW RTC-TM tender. The next formal milestone is signing the PPA with SECI, after which the 24-month execution clock runs toward commercial operations.