India’s wind power tariff fell to a record low of Rs2.64 per unit in an auction conducted by state-run Solar Energy Corp. of India (SECI) for 1 gigawatt (GW) of wind power contracts that ended in the wee hours of Thursday morning.
While ReNew Power Ventures Pvt. Ltd and Orange Sironj Wind Power Pvt. Ltd bid Rs2.64 per kilowatt hour (kWh) to win contracts for 250 megawatts (MW) and 200MW each; Inox Wind Infrastructure Services Ltd and Green Infra Wind Energy Ltd bid a tariff of Rs2.65 per unit for securing contracts of 250MW each, said a person aware of the development, requesting anonymity. Adani Green Energy (MP) Ltd also bid Rs2.65 per unit to win a 50MW contract.
These firms quoted the price at which they will sell electricity to win contracts under the tender that received demand for three times the grid-linked capacity being sold.
These tariffs are lower than the average rate of power generated by coal-fuelled projects of India’s largest power generation utility, NTPC Ltd, at Rs3.20 per unit. The price gap between electricity generated from thermal, solar and wind projects has been bridged. This is primarily due to costs of solar modules and wind turbine generators falling by 80% and 20%, respectively, over the past five years. Read More…