June 19 (Renewables Now) - A 500-MW solar tender by the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) has attracted only 90 MW of bids, Mercom Capital reports, citing a government official.
UPNEDA received just three proposals for grid-connected solar photovoltaic (PV) projects. Of these, two projects of 20 MW each were submitted by the National Thermal Power Corporation (NTPC), while Sukhbir Agro bid for 50 MW. Of the total, only 72 MW will be developed, according to the request for selection (RfS) rules, which state that if the tender is oversubscribed only 80% of the bidding capacity will be awarded.
The state agency launched the 500-MW tender in January, capping it at INR 3.05 (USD 0.044/EUR 0.039) per kWh. In a previous tender, completed in December 2018, it awarded 550 MW of grid-connected solar projects that will be set up at tariffs as low as INR 3.02/ kWh.
(INR 10 = USD 0.143/EUR 0.128)