Bids ‘remain aggressive’ in Maharashtra’s 1GW solar auction

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In this case the capacity is not within a solar park. Credit: ReNew Power

Maharashtra’s latest 1GW auction has attracted winning bids between INR 2.71-2.72/kWh (US$.0.04), staying almost flat with India’s most recent PV auction in Andhra Pradesh.

Bidder tariff (INR/kWh) capacity (MW)
JLTM Energy 2.71 20
Mahoba Solar (UP) 2.71 200
ReNew Power 2.72 250
Acme Solar 2.72 250
Tata Power Renewable Energy 2.72 150
Azure Power 2.72 150

Mudit Jain, consultant at Bridge to India, noted that tariffs had changed little from the INR2.72-2.73/kWh discovered in NTPC’s 750MW auction for the Ananthapuramu solar park in Andhra Pradesh earlier this month. However, in this case the capacity is not within a solar park. Jain noted that aggressive bidding has remained despite the lack of solar park but also suggested that the bids were a slightly “too aggressive”.

Giriraj Renewables and Shappoorji Pallonji lost out in the auction with bids of 2.72 and 2.76 rupees respectively.

Gujarat Urja Vikas Nigam Limited (GUVNL), a Discom in the state of Gujarat, recently scrapped a tender after its 500MW auction saw tariffs hover around the 3 rupee mark since it was hoping to attract far lower bids.

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