Azure Power wins 250MW Indian local content solar auction

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
The project can be set up anywhere in India. Credit: Azure Power

Azure Power has submitted the lowest bid of INR3.14 (US$0.048) in a 250MW solar auction under the Domestic Content Requirement (DCR) held by Indian utility NTPC.

The project, for which PV equipment must be sourced locally, can be set up anywhere in India, but developers are liable to identify land and transmission themselves.

Vinay Rustagi, managing director, Bridge to India, told PV Tech: “This is probably the last DCR based project development tender. There was relatively much less competition because of challenges in procuring domestic modules within a tight timeline (revised subsequently to 12 months), no solar park availability and inter-state open access power transmission. The winning tariff, although 29% higher than the lowest tariff of 2.44 seen so far, is still fairly aggressive bearing in mind these challenges and higher capital cost.”

The DCR policy is due to come to an end on 14 December this year after the WTO ruled against it.

The bidders in this local content auction were as follows:

Developer Tariff (INR/kWh) Capacity (MW)
Azure Power 3.14 250
ReNew Power 3.15 150
Waaree Energies 3.94 25
Mahoba Solar 4.44 250
Canadian Solar 4.95 100

Azure Power also turned heads in September when it won 260MW of projects in a Gujarat solar auction with a price of INR2.67/kWh (US$0.041).

The firm has also won a range of rooftop projects of late for Ministry buidings and Railway infrastructure.

Article Revised: references to 3-month commissioning deadline removed.

Read Next

January 25, 2022
Indian PV encapsulant and backsheet manufacturer RenewSys has brought its encapsulant production capacity up to 3GW with the commissioning of a new line in Bengaluru, India, with the company eventually targeting 11GW of capacity through a “phased manner”.
January 21, 2022
India is at risk of a supply and demand mismatch for solar equipment if domestic PV manufacturers are unable to meet the quantity and quality required by project developers, Fitch Solutions has warned.
January 13, 2022
Reliance Industries has signed a Memorandum of Understanding (MoU) with the government of Gujarat for a total investment of INR5.955 lakh crore (US$80 billion) over 10-15 years to establish 100GW of renewables and set up green technology manufacturing facilities in the state.
January 12, 2022
US solar tracker supplier Array Technologies has completed its previously announced acquisition of Spanish tracker manufacturer Soluciones Técnicas Integrales Norland, S.L. (STI Norland).  
January 11, 2022
Algeria has launched a tender process to support the deployment of solar PV projects in the country with a total capacity of 1GW.
January 10, 2022
Indian renewables company ReNew Energy Global Plc’s wholly owned subsidiary India Clean Energy Holdings has raised US$400 million through a green bond sale that will be used to support the company’s growth strategy and “refinance existing high-cost debt”.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
January 26, 2022
Free Webinar
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 8, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal