May 28 (Renewables Now) - The Solar Energy Corporation of India’s (SECI’s) 1.2 GW hybrid solar-wind tender has ended up undersubscribed, with the lowest bid standing at INR 2.69 (USD 0.039/EUR 0.034) per kWh, Mercom Capital reports.
The lowest proposal was made by India’s Adani Green Energy to install 600 MW of inter-state transmission system (ISTS) capacity. ReNew Power, meanwhile, secured 120 MW after launching a bid of INR 2.70/kWh. The company bid for 300 MW of capacity but was awarded only 120 MW, Mercom said, citing an unnamed SECI official.
The Request for Selection (RfS) for the 1.2 GW of solar-wind hybrid projects was released in March. Bids were capped at INR 2.70 per kWh, while selected projects will be implemented on a build-own-operate (BOO) basis. Successful projects have to be commissioned 18 months after the signing of a power purchase agreement (PPA).
The Press Trust of India (PTI) recently wrote, citing an unnamed industry source, that the tepid response from developers came due to the tariff cap. The bidding deadline was extended from Aril 23, 2019 to May 7, 2019.
(INR 10 = USD 0.143/EUR 0.128)