GRIDCO auctions 200 MW of solar power capacity

The Grid Corporation of Odisha (GRIDCO) has announced the results of its 200 MW solar PV auction. The capacity was tendered by the corporation in April 2018, and the tender was oversubscribed by almost four times. GRIDCO has provided a pass-through option for developers to accommodate for the increase in price of solar cells and modules due to imposition of safeguard duties.

The lowest tariff of Rs 2.79 per kWh was quoted by Aditya Birla Renewables. The rest of the bidders quoted tariffs above Rs 3 per kWh. A total of 12 companies participated in the financial bidding process of which five won capacities. The winning bidders are:

Developer Capacity (MW) Tariff (Rs per kWh)
Aditya Birla Renewables 75 2.79
Sukhbir Agro Energy 25 3.19
Gupta Power Infrastructure 20 3.19
Eden Renewables Varenne 50 3.19
ACME Solar 30* 3.20

*ACME Solar had quoted a tariff of Rs 3.20 per kWh to develop 50 MW of capacity but was awarded only 30 MW.

Uttar Pradesh retenders 500 MW of solar capacity

The Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) has retendered 500 MW of grid-connected solar PV projects to be developed across the state. The capacity is part of UPNEDA’s recently cancelled 1,000 MW solar tender. UPNEDA cancelled the recent auction for on account of higher than expected tariffs (L1 tariff of Rs 3.48 per kWh had been discovered in the auction).

The agency has now split the capacity into two tenders of 500 MW each. The next batch of 500 MW tender will be rolled out once the first 500 MW is auctioned.

An upper tariff ceiling of Rs 3.10 per kWh has been fixed for this tender. As per tender guidelines, a single bidder must bid for a minimum of 5 MW capacity. The maximum allowable bidding capacity is 500 MW. In addition, a single bidder can submit multiple bids for projects to be set up in different locations.

For projects of up to 250 MW capacity installed at a single location, the completion timeframe is 21 months, whereas for those with capacity more than 250 MW at a single location, the commissioning timeframe has been set at 24 months. UPNEDA has provided a time frame of 12 months to attain financial closure, land acquisition and connectivity agreements. The last date for bid-submission is August 28, 2018.

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