First Solar comes up with lowest bid in Indian solar tender

Oct 27, 2014 - The Indian unit of US firm First Solar Inc (NASDAQ:FSLR) has made the lowest bid of INR 5.25 (USD 0.086/EUR 0.067) per kWh in Indian state Andhra Pradesh's tender for 500 MW of solar capacity.

First Solar Power India Pvt Ltd has made the INR-5.25 offer for 40 MW of capacity in Anantapur district, according to data released by AP Transco last week. It has also proposed a price of INR 5.35 per kWh for the first year of operation for another 40-MW project in Chittoor district.

The highest bid, on the other hand, was made by PVR Projects Ltd. It offered to sell at INR 8.08 per kWh the output from a 10-MW project in Nellore district.

Overall, there were 50 qualified bidders with proposals for 1,291 MW of total grid-connected solar capacity. Welspun Renewables Energy Pvt Ltd made four offers of between INR 5.99 and INR 6.29 per kWh for 345 MW of projects. The list of bidders also include Acme Clean Tech Solutions Ltd with three bids for an aggregate of 160 MW and Sunedison Energy Holding (Singapore) PTE Ltd with three offers of 30 MW each.

In geographical terms Anantapur was the most preferred district as it got 580 MW of bids. Chittoor came in second with 273 MW and Kurnool attracted 272 MW.

(INR 10 = USD 0.163/EUR 0.129)

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