Indian solar tender for 1.2 GW sees lowest bids of INR 2.55/kWh – report


Indian solar tender for 1.2 GW sees lowest bids of INR 2.55/kWh – report

A The 1.2-GW solar tender of the Solar Energy Corporation of India (SECI) has resulted in bids as low as INR 2.55 (USD 0.036/EUR 0.032) per kWh, Mercom Capital reports.

The lowest tariff was quoted by ReNew Power, which bid for 300 MW of the overall tendered Interstate Transmission System (ISTS)-connected capacity. Azure Power (NYSE:AZRE) and Eden Renewables also won 300 MW each with bids of INR 2.58/kWh and INR 2.60/kWh, respectively. SBSR Power Cleantech Eleven Pvt Ltd, part of Japan’s SoftBank (TYO:9984), proposed INR 2.61/kWh for 600 MW but was awarded only half of it.

The tender, which was launched in January, was capped at INR 2.65 per kWh. Bidders were required to make proposals for at least 500 MW and up to 600 MW, with projects to be developed in multiple 20-MW blocks. Winners will be awarded power purchase agreements (PPAs) with SECI. Read More

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