Telangana PV auction sees more sub-five rupee tariffs, SECI tendering another 245MW

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
SECI is also tendering for soalr capacity across various states. Flickr: Sanyam Bagha.

India-based companies have dominated the latest solar auction for 350MW in the state of Telangana with winning tariffs ranging between INR4.66-4.77/kWh (~US$0.07).

Each project tendered by major India utility NTPC is for 10MW capacity. The five winning developers were:

Developer capacity (MW) Tariff INR/kWH
ReNew Solar Power 100 4.66
Karvy Consultants 50 4.67
Azure Power 100 4.67
Adani 50 4.67
ACME Solar 50 4.67

Jasmeet Khurana, associate director, consulting at Bridge to India, told PV Tech: “There are international companies in the list [of bidders] which have quoted similar tariffs and many of the winning Indian companies are also backed by international capital.”

PV Tech recently spoke to financiers, who claimed that difficulties in financing Indian solar projects with extremely low tariffs would not impact the long-term prospects of India’s PV market.

SECI 245MW tenders across India

In related news, the Solar Energy Corporation of India (SECI) has issued a request for selection (RfS) for solar capacity across three states.

This includes 160MW in Uttar Pradesh, 50MW in Himachal Pradesh, and 35MW in Puducherry. All the capacity will not be installed in solar parks and the projects will come up as part of the National Solar Mission Phase-II, Batch-III.

SECI also recently issued a tender document for 500MW of rooftop solar capacity across India. This is by far the largest rooftop solar subsidy tender in the country to date.

Consultancy firm Bridge to India estimated that residential and institutional segments accounted for rooftop solar capacity addition of around 60MW in the last year, which means that SECI is hoping the market to grow eight-fold this year to account for the 500MW.

The latest release from the consultancy firm said: “The tender requirement to commission the entire allocated capacity within 12 months (or face penalties) is also harsh in view of the small market size at present and significant delays observed in net metering approvals across India.”

Bridge to India also said the design of the tender is very restrictive and, if some of the conditions are not relaxed, the consultancy anticipates that the tender subscription would be very low for the institutional market segment.

If you are looking to invest in or develop solar projects in India, join us on the 7th of June in London at Solar Finance & Investment: India, a conference designed to bring together European and North American investors and developers looking into the Indian market, as well companies with consolidated presence that are exploring new partnerships.

Read Next

June 18, 2021
UNOPS Sustainable Investments in Infrastructure and Innovation (S3i) has signed an agreement to invest in a 250MW solar plant in Rajasthan, India
June 16, 2021
EQT infrastructure has announced a takeover bid for Solarpack, which owns approximately 450MW of operational solar PV projects.
June 16, 2021
Azure Power Global saw its cost of deploying solar fall by nearly 19% last year, but the company still recorded a net loss of US$38.1 million in the quarter ending 31 March 2021 despite a year-on-year increase in revenue.
June 7, 2021
India’s rising renewable power capacity could render the country’s 33GW of coal-fired power plants under construction unviable.
June 3, 2021
Oslo headquartered renewable power producer Scatec has announced a new partnership with ACME to develop a 900MW solar power plant in the state of Rajasthan, India.
May 28, 2021
India installed just over 2GW of solar in Q1 2021 as the country rebounded from COVID-19 related delays, however full-year installs could fall to well below previous estimates, one forecast suggests.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 6, 2021
Solar Media Events
August 24, 2021
Solar Media Events, Upcoming Webinars
October 6, 2021