Uttar Pradesh 550MW solar auction sees tariffs drop

Facebook
Twitter
LinkedIn
Reddit
Email

UPDATED: Winning bids in a 550MW solar auction in Uttar Pradesh, India, have come out between INR 3.02-3.08/kWh (US$0.0429-0.0437), a notable drop from 3.17-3.23 rupees in its most recent 500MW auction in October.

Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) saw the lowest bid come in from India's largest distribution company NTPC, which has only recently tried its hand in PV auctions in India.

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

The results were as follows:

Bidder Tariff (INR/kWh) Capacity (MW)
NTPC 3.02 85
Bastille Solar (EDF) 3.04 70
Bastille Solar 3.07 70
Giriraj Renewables (Avaada) 3.07 100
Mahoba Solar (Adani) 3.07 50
Tata Power Renewable Energy 3.07 50
Jakson Power 3.07 50
Tata Power Renewable Energy 3.08 50
Mahoba Solar 3.08 25 (bid for 50)

Other bidders that missed out on capacity included Vijay Printing Press and Sukhbir Agro, while Mahoba Solar (Adani) put in several other unsuccessful bids.

Vinay Rustagi, managing director of Bridge to India, told PV Tech: “The list of winners is very similar to the last tender just two months ago. Most of these are Indian developers apart from EDF. The fall can be largely explained by a continued fall in the module prices which are expected to remain soft going well into the next year and so the tariff fall is understandable.

“UP has one of the worst rated Discoms in the country, but what we increasingly see is that many of the developers, particularly the Indian developers, seem to be quite happy with the offtake risk of Uttar Pradesh and it's hard to tell whether it is just a case of getting comfortable with the offtake risk or whether, because the pipeline is being so erratic and building new capacities is becoming more difficult, the developers have just decided that even if they can bag some capacity in the UP tender, so be it.”

In November, UPNEDA issued a request for selection (RfP) for a 200MW solar park to be awarded through competitive bidding.

Updated to include comment from Bridge to India.

Read Next

September 4, 2025
India’s Goods and Services Tax (GST) Council, the joint forum of the Centre and States, has reduced the GST rate on renewable energy components from 12% to 5%. 
September 4, 2025
Indian solar manufacturer Waaree Energies has acquired a 64% equity stake in power transformer manufacturing company Kotsons.
September 3, 2025
India has added 2.8GW of rooftop solar in H1 2025, a 158% year-on-year surge from just 1.1GW in the same period last year.
September 1, 2025
The US International Trade Commission (ITC) has voted to continue the investigation on imported solar cells from India, Indonesia and Laos.
August 28, 2025
Indian solar manufacturing firm INA Solar has broken ground on its fourth 4.5GW cell production plant in Narmadapuram, Madhya Pradesh.
August 26, 2025
Jakson Engineers is investing over INR80 billion (US$912.5 million) to set up a 6GW integrated solar module, cell, and wafer plant.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines