SECI solar public auction led to India's most affordable solar tariff ever before of $0.0270 per kWh

Nov 27, 2020 04:28 PM ET
  • The current Solar Energy Corporation of India (SECI) public auction for 1,070 MW of solar projects in the state of Rajasthan (Tranche-III) caused India's cheapest solar tariff ever before of INR 2 ($0.0270) per kWh. It is 15 percent less than the previous low of INR 2.36 ($0.0319)/ kWh.

According to Mercom India, Saudi Arabia-based Aljomaih Energy and Water Company as well as Green Infra Wind Energy Limited, a subsidiary of Singapore-based Sembcorp, won 200 MW as well as 400 MW of solar projects, specifically, at this tariff.

For Aljomaih, it was necessary to start a portfolio in India after its success in winning the bid for the 55 MW project in Bangladesh, says the consultancy. In the Bangladesh auction, as well, it drove the proposal to as reduced as $0.0748/ kWh. For its bid in Bangladesh, it created a consortium with Metito Group and Jinko Solar.

For Sembcorp, it is the largest solar quote it has won up until now as it goes into solar advancement in India. The business has actually been previously active in wind project growth in the nation and has four solar projects completing 35 MW in operation.

State had utility NTPC Limited was the only Indian victor estimating INR 2.01 ($0.0271)/ kWh. The company had placed bids for 600 MW of projects but was just granted 470 MW. For NTPC, this is among the pure solar projects of huge capacity they intended to record. The majority of other tenders by SECI are currently hybrid with wind, storage, or thermal, says the articel.



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