Bids in SECI's 750-MW solar tender at INR 2.70/kWh

The 750-MW solar tender of the Solar Energy Corporation of India (SECI) in Andhra Pradesh resulted in bids as low as INR 2.70 (USD 0.037/EUR 0.033) per kWh.

The lowest bid in the auction for 750 MW at the Ananthapuram solar park in Andhra Pradesh came from SB Energy Corp, a joint venture between Japan’s SoftBank Corp (TYO:9984), Taiwan’s Foxconn and Bharti Airtel. It will develop a 250-MW portion on the complex. Sprng Energy, the renewable energy platform of UK’s Actis LLC, also quoted a tariff of INR 2.70 per kWh to develop 250 MW, while Ayana Renewable Power proposed INR 2.71 per kWh, also for 250 MW of the overall tendered capacity, Mercom India Research said, citing a SECI official.

The INR 2.70/kWh represents an increase as compared to SECI’s previous tender for 2-GW of Interstate Transmission System (ISTS)-connected photovoltaic (PV) projects, completed several days earlier. Tariffs then fell to INR 2.44 per kWh, matching their lowest level ever, as it was announced last week.

The difference in the bids is mainly due to the high solar park charges in Andhra Pradesh and the short completion deadline of just one year, explained Vinay Rustagi, managing director of Bridge to India, as cited by local media. He noted that the projects in the 2-GW tender are with unspecified location and could be set up at a site chosen by the developer and they have up to 24 months for completion.

(INR 10 = USD 0.146/EUR 0.124)

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