Indian 500 MW solar auction with lowest tariff of $0.030 per kilowatt hour

Indian utilities Sprng Ujjvala Energy, NTPC Renewable Energy, Coal India, and TP Saurya, a Tata Power subsidiary, were declared winners in the Gujarat Urja Vikas Nigam Limited’s (GUVNL) auction to purchase power from 500 MW of grid-connected solar projects. According to Mercom India, Sprng Ujjvala Energy won a capacity of 120 MW quoting INR 2.20 ($0.030) per kWh. NTPC Renewable Energy, Coal India, and TP Saurya won 150 MW, 100 MW, and 60 MW, respectively.
The lowest quoted tariff was up 11 percent compared to GUVNL’s previous auction for 500 MW of solar projects, which set a new record for the lowest tariff with INR 1.99 ($0.0270) per kWh in the auction, says the articel.
This is the first auction after the announcement of basic customs duty on solar cells (25 percent) and modules (40 percent) which is applicable from April 2022 (we reported). Bidders were cautioned to take the customs duty into account while quoting tariffs in all future bids where the last date of bid submission fell after the notification dated March 9, 2021.
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