Indian solar tender awards 1.2 GW at INR 2.54/kWh - report

Azure Power Solar Power Plant (Photo: Business Wire)

June 13 (Renewables Now) - An oversubscribed solar tender by the Solar Energy Corporation of India (SECI) has ended up with 2,100 MW of proposals and rates as low as INR 2.54 (USD 0.036/EUR 0.032) per kWh, Mercom India reports.

The competition for interstate transmission system (ISTS)-connected solar projects across India was launched in February and targeted 1,200 MW of capacity. An unnamed government official confirmed to the clean energy communications and consulting firm that five bidders will be awarded projects.

The table below shows details about the bidders and the rates they quoted.

Developer  MW won MW bid Rate (INR/kWh)
Ayana Renewable (CDC Group) 300 300 2.54
ReNew Power 300 300 2.54
Azure Power 300 300 2.54
Mahindra Susten 250 250 2.54
Avaada Energy 50 350 2.55

The tender was capped at INR 2.65 per kWh and was oversubscribed by 900 MW. Winners will sign 25-year power purchase agreements (PPAs) with SECI.

SB Energy bid for 300 MW but could not make the cut due to the bucket filling method, according to the report.

(INR 10 = USD 0.144/EUR 0.127)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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