Lowest bid in SECI’s 1.2 GW tender was $0.036 quoted by Ayana Renewables
Post date: 12/06/2019 - 19:29
Ayana Renewables has emerged as the leading bidder by quoting the lowest tariff (L1) of INR 2.54 ($0.0366) per kWh to develop 300 MW in the recent auction conducted by the Solar Energy Corporation of India (SECI) for 1,200 MW of ISTS-connected solar projects. The tender was oversubscribed by 900 MW. According to consultancy Mercom Capital Group, the tariff ceiling for this tender was set at INR 2.65 ($0.038) per kWh.
In all, four bidders had quoted a tariff of INR 2.54 while two quoted a tariff of INR 2.55 ($0.0367) per kWh, says Mercom citing an government official. Five bidders will be awarded projects. Ayana, ReNew Power, and Azure will set up 300 MW solar PV capacity each and will be awarded the same. Mahindra Susten is going to set up 250 MW, and Avaada Energy quoted to set up 350 MW of solar PV capacity but will be awarded only 50 MW due to the bucket-filling method applied to award contracts.
The L1 tariff quoted in this auction is INR 0.01 ($0.00014)/kWh less than the L1 tariff of INR 2.55 ($0.0367)/kWh quoted in SECI’s previous solar PV auction for 1,200 MW solar PV capacity, as reported in February.