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.