SECI’s auction for 1,070 MW of solar projects sets a record low tariff at Rs 2 per kWh

The Solar Energy Corporation of India’s (SECI) auction for a 1,070 MW solar project in Rajasthan set a record low tariff of Rs 2 per kWh (Tranche III). In the auction, SECI had received bids for 4,350 MW from 14 companies, which meant that the tender was oversubscribed by 3,280 MW. The lowest tariff for capacities of 400 MW and 200 MW was quoted by Green Infra Wind Energy Limited, a subsidiary of Sembcorp and the Al Jomaiah Energy and Water Company. The second-lowest bid was quoted by NTPC Limited at Rs 2.01 per kWh. The public sector company had quoted 600 MW but was allotted only 470 MW through the bucket filling method. Among other bidders were Sprng Ujjvala Energy Private Limited, which quoted Rs 2.02 per kWh for a capacity of 300 MW, and SJVN Limited, which quoted Rs 2.07 per kWh for 250 MW of projects.

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