Recently, the Solar Energy Corporation of India Ltd. (SECI) has successfully concluded the auction for 1200 MW of interstate transmission system (ISTS)-connected solar projects to be developed across India. In February 2019, SECI had tendered the capacity under tranche-IV. The tariff ceiling for this tender was set at ₹2.65 kWh. The tender was oversubscribed by 900 MW.
The L1 tariff discovered in this auction was ₹ 2.54/Unit.
|Bidder||Awarded Capacity||Quoted Tariff ( ₹/Unit)|
|Ayana Renewable Power||300 MW||2.54|
|ReNew Power||300 MW||2.54|
|Azure Power Global||300 MW||2.54|
|Mahindra Susten||250 MW||2.54|
|Avaada Energy||50 MW (Bid for 350)||2.55|
According to Mercom Report, “Aayana, ReNew Power, and Azure quoted a tariff of ₹2.54/kWh to set up 300 MW solar PV capacity each and will be awarded the same. Mahindra Susten also quoted a tariff of ₹2.54/kWh to set up 250 MW, and Avaada Energy quoted ₹2.55/kWh 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 ₹0.01 (~$0.00014)/kWh less than the L1 tariff of ₹2.55/kWh quoted in SECI’s previous solar PV auction for 1,200 MW solar PV capacity.