No surprises in SECI’s 1.2GW solar auction

Bridge to India MD syas results were broadly in line with expectations. Credit: ReNew Power

Solar Energy Corporation of India's (SECI) 1.2GW pan-India solar auction has drawn in winning players and bids that could largely have been expected.

The huge Interstate Transmission System (ISTS)-connected auction saw the usual big names participate and bids ranged between 2.54-2.55 rupees (~US$0.037) per unit.

Bidder Tariff (INR/kWh) Capacity (MW)
Ayana (CDC Group) 2.54 300
ReNew 2.54 300
Azure 2.54 300
Mahindra 2.54 250
Avaada 2.55 50 (bid for 350)

Softbank entity SB Energy also bid for 300MW but lost out with a 2.55 rupee bid.

Vinay Rustagi, managing director of consultancy firm Bridge to India, told PV Tech: “These are broadly in line with expectations and consistent with what we have seen for the previous ISTS tenders so no surprises at all in terms of who the winners are and where the tariffs have ended up, but this is where the market is at right now.”

Indeed, SECI's February 1.2GW ISTS auction drew winning bids of 2.55-2.61 rupees, only slightly higher than this week's tariffs.

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