Six developers bag 1.85GW in Indian government solar auctions

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email

The state-run Solar Energy Corporation of India (SECI) has revealed the results of two major utility-scale auctions held in June that saw six companies win 1.85GW of capacity. 

State-owned NTPC Corporation, Mahindra Susten Private Ltd, Hero Solar Energy Private Ltd, Azure Power Maple Ltd all quoted a tariff of INR2.50/kWh (US$0.035/kWh) in a reverse auction conducted by SECI for Rajasthan 'Tranche II' on 19 June. The projects range from 70MW awarded to Azure Power to Hero Solar Energy’s 250MW. Six firms submitted bids.

New Delhi-based Azure Power and Mumbai-headquartered Mahindra Susten also bagged projects in a separate reverse auction for interstate transmission system-connected projects, held a week prior. They were awarded 300MW and 250MW respectively. ReNew Solar Power Private Ltd and Ayana Renewable Power Private Ltd were each awarded 300MW. All four have agreed to supply power at a tariff of INR2.54/kWh (US$0.035/kWh). Seven companies submitted bids.

Both reverse auctions saw less capacity shopped out than intended. While 750MW was on offer in Rajasthan, only 650MW was awarded. In the interstate auction, 1.15GW of a total 1.2GW  was allocated.

In March, a government-run 750MW solar PV auction in Rajasthan drew bids of INR2.48/kWh (US$0.035/kWh). The previous record holder was the 500MW Bhadla Solar Park, which secured a tariff of INR2.44/kWh (US$0.043/kWh) in May 2017.

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 19, 2021
Merchant solar and projects backed by power purchase agreements (PPAs) drove ground-mounted PV deployment in Spain last year, as the country installed its second-highest yearly amount of 2.8GWp, new figures from trade association UNEF reveal.
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
BRISTOL, UK