Adani Green Energy and ReNew Power were the only bidders in the latest tranche of Solar Energy Corporation of India’s wind solar hybrid tender for 1,200 MW of capacity that was undersubscribed by 300 MW. Renew Power and Adani Green Energy made techno-commercial bids for 300 MW and 600 MW, respectively, people close to the development said.
They said Solar Energy Corporation of India (SECI) — the renewable energy ministry’s nodal agency through which it conducts wind and solar auctions — will go ahead with the auction despite it being undersubscribed.
A SECI senior official said a decision was not made yet. The poor response was attributed to the ceiling tariff set at Rs 2.70 per unit, which experts said is too low to be viable for most developers.
“It is too tight,” said Vinay Rustagi, managing director of renewable energy consultancy Bridge To India. Read More