SECI solar auction resulted in India’s lowest solar tariff ever of $0.0270 per kWh
Post date: 27/11/2020 - 10:07
The recent Solar Energy Corporation of India (SECI) auction for 1,070 MW of solar projects in the state of Rajasthan (Tranche-III) resulted in India’s lowest solar tariff ever of INR 2 ($0.0270) per kWh. It is 15 percent lower than the previous low of INR 2.36 ($0.0319)/kWh. According to Mercom India, Saudi Arabia-based Aljomaih Energy and Water Company and Green Infra Wind Energy Limited, a subsidiary of Singapore-based Sembcorp, won 200 MW and 400 MW of solar projects, respectively, at this tariff.
For Aljomaih, it was important to start a portfolio in India after its success in winning the bid for the 55 MW project in Bangladesh, says the consultancy. In the Bangladesh auction, too, it drove the bid to as low as $0.0748/kWh. For its bid in Bangladesh, it formed a consortium with Metito Group and Jinko Solar.
For Sembcorp, it is the largest solar bid it has won so far as it enters solar development in India. The company has been previously active in wind project development in the country and has four solar projects totaling 35 MW in operation.
State owned utility NTPC Limited was the only Indian winner quoting INR 2.01 ($0.0271)/kWh. The company had placed bids for 600 MW of projects but was only awarded 470 MW. For NTPC, this is one of the pure solar projects of large capacity they wanted to capture. Most other tenders by SECI are currently hybrid with wind, storage, or thermal, says the articel.