Indian solar prices at 2.59 rupees in 2GW NTPC auction

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
NTPC gave bidders an extra week to work the safeguard duty into their bidding calculations before holding the auction. Credit: NTPC

The lowest bid quoted in Indian state-run utility NTPC’s auction for 2GW of interstate transmission system (ISTS)-connected solar was INR2.59/kWh (US$0.037).

The L1 bid from Acme Solar for 600MW marks a 15 paisa rise from its previous low bid of 2.44 rupees for the 2GW ISTS auction held by Solar Energy Corporation of India (SECI) on 3 July, where six bidders overall had been happy to bid at 2.54 rupees or lower – before the implementation of the safeguard duty on cell and module imports that has now also been temporarily deferred.

Today, Shapoorji Pallonji and Azure Power also matched the L1 tariff for 500MW and 300MW capacity respectively, while SB Energy (Softbank) won only 600MW despite bidding for the full 2GW as it quoted a slightly higher tariff of 2.6 rupees.

The results were as follows:

Bidder Tariff (INR/kWh) Capacity (MW)
Acme 2.59 600
Shapoorji Pallonji 2.59 500
Azure Power 2.59 300
SB Energy 2.60 600

In a tender that had been heavily oversubscribed, Aditya Birla, Mahoba Solar (Adani), Eden, Rutherford Solarfarms (Canadian Solar), Tata Power Renewable Energy, Giriraj, Alfanar, Mahindra, Hero, ReNew, and Nisagra all missed out on capacity.

After the safeguard duty imposition, NTPC gave bidders an extra week to work the duty into their bidding calculations before holding the auction.

NTPC's most recent 750MW solar auction drew winning bids of  INR2.72-2.73/kWh, but these were specific to the state of Andhra Pradesh rather than ISTS-connected projects, which can be placed anywhere in India.

Read Next

July 30, 2021
First Solar has unveiled plans to construct a 3.3GWdc module assembly facility in India, bolstering its manufacturing footprint outside of the US.
July 20, 2021
It is “unhealthy” for China to dominate solar manufacturing and production bases outside of the country are necessary to reduce the risk of supply chain disruptions, an Indian government official has said.
July 20, 2021
Vikram Solar has completed a new 1.3GW solar module manufacturing facility in Tamil Nadu, India, taking its total manufacturing output to 2.5GW.
July 14, 2021
India government-owned NTPC Renewable Energy has been given approval by India’s Ministry of New and Renewable Energy (MNRE) to build a 4.75GW solar project in Gujarat, India.
July 13, 2021
Solar PV capacity in Asia Pacific could triple to 1,500GW by 2030, with China driving deployment and Indonesia set to be the region’s fastest-growing market, according to Wood Mackenzie.
PV Tech Premium
July 9, 2021
Solar’s dominance in recent renewables auctions in Poland has further reinforced the promising outlook for the market, with developers and analysts welcoming support provided for the construction of smaller projects.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021