SECI auctions 3 GW of solar PV capacity

The Solar Energy Corporation of India (SECI) has auctioned 3 GW of (ISTS)-connected solar PV projects. SECI had tendered the capacity in February 2018. The tender was oversubscribed by 2.1 GW. In the auction, ACME Solar emerged as the lowest (L1) bidder by quoting a tariff of Rs 2.44 per kWh to develop 600 MW.

The auction winners are:

Developer Capacity (MW) Tariff (Rs/kWh)
ACME Solar 600 2.44
Azure Power 300 2.64
Rutherford Solar Farms (Canadian Solar) 200 2.70
Mahoba Solar UP (Adani) 300 2.71
ReNew Power 500 2.71
SBE Renewables (SoftBank)* 1,100 2.71

 

SBE Renewables had bid for 1,800 MW of capacity but was awarded 1,100 MW. The 1,100 MW project is the single largest capacity won in an Indian reverse auction to date.

The projects will be developed on a build own operate basis and SECI will enter into a 25-year PPA with the successful bidders. The projects will have to be commissioned within 15 months from the effective date of the PPA.

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