December 6 (Renewables Now) - Japanese renewable energy firm SB Energy Corp and India’s Adani Green Energy have emerged as the winning bidders in a 1.2-GW solar-wind hybrid tender in India.
The companies have secured a total of 840 MW and were the only ones that submitted proposals, the Economic Times reports. SB Energy, the renewable energy arm of SoftBank Corp (TYO:9984), won 450 MW with a bid of INR 2.67 (USD 0.038/EUR 0.033) per kWh, whereas Adani Green quoted INR 2.69/kWh and secured 390 MW of capacity. The bidding cap was set at INR 2.70 per kWh.
The tender for interstate transmission system (ISTS)-connected wind and solar projects was held by the Solar Energy Corporation of India (SECI) was initially seeking 2.5 GW of projects. After receiving no bids, however, SECI lowered the overall capacity to 1.2 GW and cut the ceiling tariff from the initial INR 2.93/kWh, while the maximum bid capacity was increased from 500 MW to 600 MW.
Successful projects have to be commissioned 18 months after the signing of a power purchase agreement (PPA).
(INR 10 = USD 0.141/EUR 0.124)