Powerica Ltd has emerged as the winning bidder for a 100 MW wind power project in Solar Energy Corporation of India's (SECI) 2,000 MW grid-connected wind power tender. According to reports from The Hindu BusinessLine, the company secured the bid through an e-reverse auction with a discovered tariff of ₹3.85 per unit. The electronic reverse auction was finalised on July 15, 2026, where Powerica submitted its competitive bid under a competitive bidding process. The Mumbai-based power solutions company emerged as a winning bidder in SECI's 2,000MW grid-connected Wind Power tender.
Shares of Powerica Ltd rose 2.80% to ₹590.35 on the NSE on Thursday, touching an intraday high of ₹598.70 against a previous close of ₹574.25. As reported by The Hindu BusinessLine, the stock has gained 51.78% year-to-date and trades within the NIFTY IPO index. The company's total market capitalisation stood at ₹7,481.75 crore as of Thursday afternoon. The strong market performance reflects investor confidence in the company's expanding renewable energy portfolio.
Following the Letter of Award, Powerica will enter into a Power Purchase Agreement (PPA) with SECI for the project. As reported by The Hindu BusinessLine, the company said it will use its in-house engineering capabilities to execute the project and ensure delivery within the timelines specified in the tender framework. The Letter of Award is expected to be issued within the stipulated timelines prescribed under the tender document.
This latest win adds to Powerica's existing wind power portfolio, which currently operates 330.85MW across 12 wind power projects, backed by long-term, fixed-tariff PPAs with GUVNL and SECI, typically for 25-year terms. According to The Hindu BusinessLine, the company's EPC experience covers 12 projects totalling 450.40MW of installed capacity, while it provides operations and maintenance services at 10 wind power projects aggregating 296.50MW. Powerica entered the wind power sector in 2008 as an independent power producer before expanding into EPC contracting and O&M services for balance of plant.
Despite its renewable energy expansion, Powerica's core business remains diesel generator sets, where it has operated since 1984 as an OEM partner to Cummins India for over four decades, offering generator sets ranging from 7.5 kVA to 10,000 kVA. The company also develops medium-speed large generators in collaboration with HD Hyundai Heavy Industries. As reported by The Hindu BusinessLine, the stock, which listed on the NSE on April 2, 2026, continues to benefit from its diversified energy portfolio and strong market position in the renewable sector.
