Adani, Azure emerge as winners in 100-MW Indian solar tender

Solar plant in India. Source: NTPC. License: All rights reserved.

January 27 (SeeNews) - Adani Power Ltd (BOM:533096) and Azure Power have both won 50 MW of solar projects in a 100-MW tender in the Indian state of Uttar Pradesh.

Both companies won the maximum capacity allowed per bidder with offers of INR 4.78 (USD 0.07/EUR 0.06) per kWh, the Economic Times reported on Wednesday. The record for lowest tariff was previously set in Rajasthan state, where a solar tender resulted in a winning bid of INR 4.34/kWh.

The Uttar Pradesh solar auction lured bids for 350 MW of capacity. The reason for the significantly lower interest compared to other Indian tenders is the fact that developers will have to acquire land for their projects.

The latest tender was held by state-owned power producer NTPC Ltd (BOM:532555).

(INR 10 = USD 0.147/EUR 0.135)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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