SECI 750 MW Tranche X Wind Auctions- Adani Bids Rs 2.77 to win, Ayana at Rs 2.78

Life returned to the Wind Energy pipeline with the first pure wind energy auction by SECI in over 18 months. With a reserve price of Rs 2.99, Adani Renewable Energy walked away with a 300 MW allocation at Rs 2.77/kWh, while  Ayana Renewable Power won 300 MW at Rs 2.78. Evergreen Power ventures Mauritius won 100 MW by quoting Rs 2.78 too. It is worth noting that not a single substantial wind energy auction was concluded all through 2020, even as solar bidding continued.

Interestingly JSW Energy (Rs 2.78 for 600 MW), Azure Power and O2 Power all bid at Rs 2.80 or under, indicating the demand that exists at a price under Rs 2.80, widely considered the optimum price for Wind Energy bidding in ost parts of India.

The bids in this auction are considerably lower than those in Tranche IX, when JSW Solar had won with a bid of Rs 3.01 per unit for 1,000-Mw, Vena Energy Vidhyut (160-Mw) at Rs 3.17 per unit tariff and Inox Wind Infrastructure with 50-Mw at Rs 3.41 per unit bid.

The results will come as a relief to wind energy operators, where the overall situation has been dull to dire, depending on who you speak to. Manufacturers have made multiple demands, from including it in the PLI scheme to a special subsidy to allow and accept price bidding that is a little higher than solar, where rates have fallen much faster in recent years.

Due to a far longer lean period, wind energy operators have also felt the pain of common issues, be it delay in payments from discoms, or disruptions from the Covid 19 lockdowns, far more keenly.