Wind tariffs in India hit lowest level of INR 2.43/kWh

Wind tariffs in India have reached a new record-low level of just INR 2.43 (USD 0.038/EUR 0.032) per kWh following a 500-MW tender in Gujarat.

The auction was conducted by Gujarat Urja Vikas Nigam Ltd (GUVNL). According to the utility’s website, 12 candidates were shortlisted in the competitive bidding process, targeting a total capacity of 1,527.4 MW. All of the companies proposed tariffs of under INR 3 per kWh.

The six developers that offered the lowest rates in the auction are in the table below.

Winners in the tender will be awarded power purchase agreements (PPAs) with GUVNL, but the exact capacity, especially for ReNew Power, is yet to be determined.

The Gujarat wind auction follows two 1-GW national tenders, conducted by the Solar Energy Corporation of India (SECI). The second of these achieved in October the then record-low tariff of INR 2.64 per kWh.

The Indian government recently outlined a strategy for reaching its 175-GW renewables target by 2022, including plans for tenders for at least 3 GW of wind by March 2018.

(INR 10 = USD 0.156/EUR 0.132)

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