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Renewable Energy groups bid aggressively for Solar projects

 

Earlier this week in Gujarat’s 500 MW solar auction, the lowest auction tariff was noted to be Rs 2.55/ unit, by clean energy firm UPC, with a contract of 50 MW. Gujarat State Electricity Corporation Ltd, (GSECL) and Adani Green Energy won 75 MW and 150 MW respectively at Rs 2.67/unit, whereas Orange Renewable and ReNew Power won 120 MW and 105 MW at Rs 2.67/unit and Rs 2.68/unit respectively, in the auction conducted by discom, Gujarat Urja Vikas Nigam Ltd (GUVNL).

This was an Inter State Transmission System (ISTC) contract and Solar Energy Corporation of India (SECI) is yet to finalize which states would be buying the power.

In the non-solar park auction conducted the same week, which are Rajasthan specific projects that need to be built within 18 months, 5 companies have won the contract, with the lowest bid being Rs 2.48/ unit.

Amongst the companies to have bid and won the tender amounting to a total of 750 MW, are Finland’s Fortum, US Based ACME with 250 MW each, UPC with 100MW and Palimarwar Solar House with 40 MW at Rs 2.48/ unit and ReNew Power led by Mr. Sumant Sinha with 110MW at Rs 2.49/unit.

Since, in state-specific contracts, the availability of land and transmission is known already, the tariffs are driven down by a margin.

 

As compiled from

 

                Economic Times

                Economic Times

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