SECI cancels auction for 2,400 MW ISTS connected solar power projects

SECI has cancelled the auction for the 2,400 MW of ISTS-connected solar power projects. SECI had invited bids for 3,000 MW ISTS-connected solar projects in February 2018. Six companies viz. ACME Solar, Azure Power, Rutherford Solarfarms (Canadian Solar), Mahoba Solar UP (Adani), ReNew Solar Power and SBE Renewables (SoftBank) had won the bids. However, bids aggregating for 2,400 MW have now been cancelled except for the 600 MW capacity allotted to ACME that had quoted lowest tariff of Rs 2.44 per unit. While a tariff of Rs 2.44 per kWh is the lowest solar tariff observed in any Indian solar suction, reportedly, the tariffs quoted by the rest of the developers were found to be too high by SECI, leading to cancellation of these projects.

The bids had been invited on public-private partnership (PPP) model on BOO basis. The cancelled projects include 1,100 MW won by SB Energy, and 500 MW won by ReNew Power, both of which had quoted Rs 2.71 per kWh as well as 300 MW each won by Mahindra Solar and Mahoba Solar (part of the Adani Group) that quoted Rs 2.64 per kWh.