Tariffs Drop to 2.48/kWh in SECI’s Rajasthan 750 MW (Tranche-I) Auction

SECI has revealed that tariffs dropped to Rs 2.48/kWh in its 750 MW grid-connected solar power projects tender auction in Rajasthan under Tranche-I.

The Solar Energy Corporation of India (SECI) has revealed that tariffs dropped to Rs 2.48/kWh in its 750 MW grid-connected solar power projects tender auction in Rajasthan under Tranche-I.

According to the nodal agency for implementing renewable energy projects in the country, bids from 13 firms amounting to 2370 MW were received in response to the 750 MW tender. Of these 13 bids, nine bids (amounting to 1630 MW) were shortlisted to participate in the e-reverse auction after the opening of the financial bids.

And after the conclusion of the e-RA, Fortum Solar Plus, Palimarwar Solar House, ACME Solar Holdings, and Sitara Solar Energy emerged as the winners with the lowest fixed rate of Rs 2.48/kWh. The four lowest bidders were awarded the capacities they bid for i.e. 250 MW for Fortum, 40 MW for Palimarwar, 250 MW for ACME Solar and 100 MW for Sitara Solar Energy.

Renew Solar Power bid for developing solar projects worth 360 MW capacity but was awarded 110 MW after quoting a tariff of Rs 2.49/kWh in the e-RA.

Azure Power Maple, Mahindra Susten, Rays Power Infra, and Green Infra Wind Energy quoted tariff rates of 2.5/kWh, 2.51/kWh, 2.52/kWh, and 2.56/kWh respectively and walked away from the tender with no awarded contracts.

Recently, we reported that four firms have emerged as the lowest bidders in the latest auction by SECI for the Rajasthan 750 MW solar tender under Tranche-II. The four firms quoted a tariff of Rs 2.5 per unit each in a reverse auction conducted by the SECI for the tranche-II (750 MW) projects, according to a source close to the development.

It is believed that NTPC bid for 160 MW in solar tender, while Mahindra Susten submitted a bid for 200 MW. Similarly, Hero Solar Energy showed interest for 250 MW and Azure Power Maple wanted 100 MW out of this auction.