While aggressive bidding by developers has been blamed for wind power tariffs plunging to levels lower than many believe are viable, analysts were divided if the results of latest round of auction under the central government scheme suggested the prices are bottoming out. Though the rate of Rs 2.44 a unit discovered in the reverse auction conducted by state-run Solar Energy Corporation of India (SECI) on Tuesday was about 30% lower than the tariff discovered in the first wind power auction in February 2017 — till then the “feed-in tariff” (FiT) regime, no longer applicable to new projects, prevailed — it was nominally higher than the tariff of Rs 2.43 a unit found by the Gujarat government in the auction executed in December last year.
According to sources, ReNew Power, Green Infra (a unit of Singapore-based Sembcorp), Inox Wind and Torrent Power, all quoting Rs 2.44 a unit, were awarded projects of 400 MW, 300 MW, 200 MW and 499.8 MW, respectively, by SECI.
Adani Green Energy, Riyadh-based Alfanar and Betam Wind (backed by French electricity major Engie) quoted Rs 2.45 a unit, winning projects of 250 MW, 300 MW and 50.2 MW, respectively. SECI will sign 25-year power purchase agreements with successful bidders. Read More…
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