Tenders

2021 witnessing upward solar tariff trends The tariffs discovered in the two most recent solar auctions by Torrent Power Ltd. (TPL) and NTPC Ltd. witnessed L1 tariffs at Rs. 2.22/kWh and Rs. 2.25/kWh, respectively. These are well above the ultra-low tariffs of Rs. 1.99 to 2 per kWh discovered in earlier SECI 1070 MW Rajasthan tender auction and GUVNL 500 MW solar tender auctions completed last year. Key reasons for this uptrend can be: Limited participation of international developers (Aljomaih,…

Latest 6.4 GW Andhra Pradesh solar auction saw uptrend in tariffs In an apparent recalibration in solar market dynamics, India’s largest solar auction of 6.4 GW by Andhra Pradesh Green Energy Corporation Limited’s (APGECL) registered lowest price (L1) of Rs. 2.47 per kWh by Torrent Power for 300 MW capacity. The L1 tariff is significantly higher than the record-low tariffs of Rs. 1.99 – 2 per unit, discovered in the previous auctions of GUVNL 500 MW Solar (Phase XI) auction…

SECI 1200 MW Wind-Solar Hybrid (Tranche-III) auction creates new record of Lowest tariff at Rs. 2.41/kWh Following the issuance of the incumbent national framework – the Wind-Solar Hybrid Policy in 2018, India saw a succession of WSH (Wind-Solar Hybrid) tenders. Although there have been a few successful WSH tenders, many have received tepid responses which have led to either undersubscription or cancellation of these tenders. In a recent development, however, SECI 1200 MW ISTS, WSH (Tranche-3) auction saw oversubscription of…

NTPC 1.2 GW ISTS solar tender saw aggressive tariff of INR 2.43/ kWh Today, NTPC conducted the reverse auction of its 1.2 GW ISTS solar tender.  Last month, the tender received a good response with bids of about 1.7 GW of capacity. The tender auction was conducted today and it saw winning tariff of INR 2.43/kWh. The minimum CUF condition for this tender is 19% and the commissioning timeline is 24 months. Auction winners are O2 power (400 MW), Azure…