August 9 (Renewables Now) - No bids were received in NTPC Ltd’s (BOM:532555) recent tender for 1.2 GW of solar photovoltaic (PV) projects, the Economic Times reports, citing sources in the know.
The tender sought projects at locations in the states of Maharashtra, Madhya Pradesh, Chhattisgarh and Gujarat, with connectivity through substations at existing NTPC thermal power plants. Proposals were capped at INR 2.78 (USD 0.039/EUR 0.035) per kWh.
Vinay Rustagi, managing director of renewable energy consultancy Bridge To India, told the newspaper that the reason for developers’ silence is the low ceiling tariff, considering the lower irradiation levels in the specific areas and the higher cost of land there. He added that the expectations for a viable tariff stand at around INR 3 per kWh.
Following the lack of interest, NTPC has extended the bidding window to August 19, the unnamed sources said. According to the report, this is the first time NTPC has put a ceiling tariff in such a tender.
(INR 10 = USD 0.142/EUR 0.127)