SECI’s 1200 MW Solar Tender gets lowest bid of ₹ 2.54/Unit

SECI’s 1200 MW Solar Tender gets lowest bid of ₹ 2.54/Unit

Recently, the Solar Energy Corporation of India Ltd. (SECI) has successfully concluded the auction for 1200 MW of interstate transmission system (ISTS)-connected solar projects to be developed across India. In February 2019, SECI had tendered the capacity under tranche-IV. The tariff ceiling for this tender was set at ₹2.65 kWh. The tender was oversubscribed by 900 MW.

The L1 tariff discovered in this auction was ₹ 2.54/Unit.

BidderAwarded CapacityQuoted Tariff ( ₹/Unit)
Ayana Renewable Power 300 MW2.54
ReNew Power 300 MW2.54
Azure Power Global 300 MW2.54
Mahindra Susten250 MW2.54
Avaada Energy50 MW (Bid for 350)2.55

According to Mercom Report, “Aayana, ReNew Power, and Azure quoted a tariff of ₹2.54/kWh to set up 300 MW solar PV capacity each and will be awarded the same. Mahindra Susten also quoted a tariff of ₹2.54/kWh to set up 250 MW, and Avaada Energy quoted ₹2.55/kWh to set up 350 MW of solar PV capacity but will be awarded only 50 MW due to the bucket-filling method applied to award contracts.”

The L1 tariff quoted in this auction is ₹0.01 (~$0.00014)/kWh less than the L1 tariff of ₹2.55/kWh quoted in SECI’s previous solar PV auction for 1,200 MW solar PV capacity.