UPENEDA’s auctions 500 MW solar capacity

Uttar Pradesh New and Renewable Energy Development Agency The (UPNEDA) has announced the results of its 500 MW solar auction.

The lowest tariff (L1) of Rs 3.17 per kWh was quoted by Maheshwari Mining & Energy and NTPC Limited for developing 20 MW and 140 MW capacity respectively. The two companies also won 20 MW capacity each. For this, Maheshwari Mining & Energy had quoted a tariff of Rs 3.19 per kWh, while NTPC limited quoted a tariff of Rs 3.21 per kWh.

Adani’s Mahoba Solar UP won two bids of 50 MW each at tariffs of Rs 3.19 per kWh and Rs 3.22 per kWh. Projects worth 50 MW were won by Sukhbir Agro, Talettutayi Solar Projects (SolarArise), and EDEN Renewable Jasmin each, at tariffs of  Rs 3.20 per kWh, Rs 3.21 per kWh and Rs 3.21 per kWh, respectively. Giriraj Renewables, which had submitted bids for three 100 MW blocks only won 50 MW capacity by quoting Rs 3.23 per kWh.

Developers Capacity Won (MW) Tariff (Rs/kWh)
Maheshwari Mining & Energy 20 3.17
NTPC Limited 140 3.17
Maheshwari Mining & Energy 20 3.19
Mahoba Solar UP (Adani) 50 3.19
Sukhbir Agro Energy Limited 50 3.20
Talettutayi Solar Projects (SolarArise) 50 3.21
NTPC Limited 20 3.21
EDEN Renewable Jasmin 50 3.21
Mahoba Solar UP (Adani) 50 3.22
Giriraj Renewables (Avaada)* 50 3.23
* Giriraj Renewables had submitted bids for 300 MW capacity, however it won only 50 MW

 

The tendered capacity is part of the earlier 1,000 MW tender that had been cancelled by UPNEDA due to high tariffs. For this 500 MW tender, an upper tariff ceiling of Rs 3.10 per kWh had been set and the capacity had been oversubscribed by 250 MW by a total of seven companies.

According to UPNEDA, the tariff quoted in this auction will be reduced by Rs 0.15 per kWh if the developers fail to produce a receipt of payment of safeguard duty at the time of project commissioning.

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