SunEdison bids for 500 MW in oversubscribed solar tender in India

Solar modules. Author: Oregon Department of Transportation. License: Creative Commons, Attribution 2.0 Generic.

September 14 (SeeNews) - SunEdison Inc (NYSE:SUNE) and five other developers have each bid for 500 MW in last week’s solar power tender in Andhra Pradesh, India, which was actually oversubscribed more than 10 times.

This was unveiled on Monday by local consultancy Bridge to India, which said that 30 developers, both local and international, have made bids for a combined 5.5 GW. The state is targeting 10 projects of 50 MW each, or 500 MW in total, under the latest phase of the National Solar Mission (NSM).

Aside from the US renewables major, the other developers that bid for as much as was offered are Adani Group, Rattan India, Reliance, SoftBank and Energon. Meanwhile, Renew, Tata Power, Shapoorji Pallonji, Azure and Orange Renewables have each bid for at least 200 MW.

The next stage involves open online bidding from 28 developers, expected to take place a month from now.

Bridge to India said it believes that developers such as SunEdison, Acme, Adani and Renew, each of which has a 500-MW-plus pipeline in India, will continue to bid for significant capacities in upcoming tenders. It also estimates that there are more than 80 developers willing to bid in the upcoming 420-MW tender in Rajasthan.

The consultancy also said that according to “industry murmurs”, the tariffs may fall below INR 5.00 (USD 0.075/EUR 0.067) per kWh.

(INR 10 = USD 0.151/EUR 0.133)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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