India’s Odisha awards 270MW in ‘pruned’ solar auction

August 23, 2016
Facebook
Twitter
LinkedIn
Reddit
Email
Flickr:Essel, IBC and Jyoti all won capacity with VGF funding.  Gopi Sutar

Solar Energy Corporation of India (SECI) has awarded 270MW of solar PV capacity in the Indian state of Odisha to three firms.

The winners, who bid at a fixed tariff of INR4.43/kWh (US$0.067) combined with viability gap funding (VGF) provided by SECI, were:

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Developer Capacity (MW) VGF (INR)
Essel Green Energy 240 4.95 million
IBC Solar 20 4.925 million
Jyoti Infrastructure 10 4.915 million

Odisha originally planned a tender for 450MW under the National Solar Mission Phase-II Batch IV, but this was pruned down to 300MW and then reduced further to 270MW for the bidding process, Shailendra Bebortha, managing director of IBC Solar Projects, told PV Tech.

The VGF in this case will be paid on commissioning of the project in one transaction, which effectively reduces the capital cost of the project.

Bebortha said: “In terms of tariff it will translate to somewhere between 4.8 to 4.9 rupees per kilowatt hour.”

He added: “In terms of competition it was low compared to other tenders we have seen in the market. In terms of number of participants and in terms of aggressiveness it was generally ok, not too good or too bad.”

Some regions of Odisha have relatively good solar irradiation comparable to some other strong solar states.

Until last autumn IBC had concentrated on EPC services for projects in India, but its win in Odisha marks its first foray into the project development sector in India.

Yesterday SECI announced it is setting up a 'Payment Security Fund' to ensure that payments from Distribution Companies to solar developers are on schedule.

Read Next

January 7, 2026
Indian independent power producer Inox Clean Energy and its subsidiary Inox Solar have tied up equity totalling INR31 billion (US$340 million).
January 5, 2026
Independent power producer Inox Clean Energy has acquired an operational solar PV portfolio in India from SunSource Energy.
January 5, 2026
Solar PV installations in India have surged in 2025 with a record 34.98GW of new additions, according to the Indian Ministry of New and Renewable Energy.
January 2, 2026
SJVN has commissioned a 1GW solar PV plant in Rajasthan, India, its largest solar project to comply with India’s DCR rules.
December 31, 2025
Premier Energies and Waaree have both won module supply orders, while KP Group has signed a MoU with the Government of Botswana. 
December 30, 2025
Sembcorp has acquired a 100% stake in ReNew Sun Bright for approximately US$191.6 million, through its subsidiary, Sembcorp Green Infra.

Upcoming Events

Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 24, 2026
Dallas, Texas
Solar Media Events
April 15, 2026
Milan, Italy
Solar Media Events
June 16, 2026
Napa, USA
Solar Media Events
November 24, 2026
Warsaw, Poland