Manoj Upadhyay, founder and chairman, ACME Group. Credit: Solar Media
Indian firm Acme Solar has matched its record – the lowest ever solar bid in India – once again during Solar Energy Corporation of India’s (SECI) 3GW Interstate Transmission System (ISTS) solar auction.
The firm is set for 600MW of capacity at a price of INR2.44/kWh (US$0.036), a tariff with which it bagged 600MW of capacity in the recent 2GW ISTS solar auction from SECI and 200MW in Rajasthan in May 2017, the first time such a low tariff had been reached in India.
Other results in the 3GW auction were as follows.
|Bidder||Tariff (INR/kWh)||Capacity (MW)|
|Rutherford Solarfarms (Canadian Solar)||2.70||200|
|SBG Cleanteach||2.71||1,100 (bid for 1,800)|
Mahindra, Mytrah, Tata Power, Hero Future Energies and Sprng all lost out with bids ranging from 2.72-2.90 rupees.
Technical bids totaling 5.1GW were received against the tendered capacity of 3GW by 12 companies.
"We are excited to win this project and consistently offering most competitive tariff, this project will encourage us in our endeavour to bring green energy in the country," said Manoj Upadhyay, founder and chairman, ACME Group. His firm also won capacity in the 1GW Uttar Pradesh auction this week.
The PV IndiaTech 2020 conference will continue to bring together all key domestic and overseas stakeholders, including government bodies, investors, and the leading companies today from manufacturing to O&M and asset management. To thrive globally as a major PV power beyond 2020, India has to succeed in unlocking its potential both to manufacture and to lay claim to quality utility-scale solar farms that are providing high returns on investment to site owners.