India’s Solar Tariff Hits New Record with Rs 2/kWh in SECI’s 1070 MW Auction for R’sthan

Under this tariff-based competitive bidding, the two companies namely Saudi Arabia-based Aljomaih Energy and Water Co., and Singapore-based Sembcorp’s Green Infra Wind Energy Ltd had quoted a lowest tariff of Rs 2/kWh for 200 MW and 400 MW respectively. While, state-owned NTPC had won 470 MW of capacity out of 600 MW applied at Rs 2.01/kWh.

November 23, 2020. By Manu Tayal

Adding another feather in its cap, state-owned Solar Energy Corporation of India (SECI) has discovered a new record low tariff of Rs 2/kWh in its tender auction for setting up of 1070 MW grid-connected solar photovoltaic (PV) power projects in Rajasthan (Tranche-III).

The previous lowest tariff discovered by SECI stood at Rs 2.36/kWh, which was 15.3 per cent higher from the new record tariff.

Under this tariff-based competitive bidding, the two companies namely Saudi Arabia-based Aljomaih Energy and Water Co., and Singapore-based Sembcorp’s Green Infra Wind Energy Ltd had quoted a lowest tariff of Rs 2/kWh for capacity of 200 MW and 400 MW respectively. While, state-owned NTPC had won 470 MW of capacity out of 600 MW of applied capacity at the rate of Rs 2.01/kWh tariff.   

Notably, NTPC had earlier announced of not setting up of new greenfield coal-fueled power projects and mulls to make an aggregate capital expenditure of Rs 1 trillion between 2019 and 2024 to become a 130 GW power producer by 2032.

The bid submission for SECI’s 1070 MW solar power projects tender for Rajasthan was closed on November 23, 2020, in which total fourteen companies had applied for 4,350 MW of capacity and oversubscribed by 3,280 MW.

The remaining unsuccessful bidders include – Sprng Ujjvala Energy Pvt Ltd, SJVN Ltd, Talettutayi Solar Projects Nine Pvt Ltd, Vector Green Energy Pvt Ltd, Jakson Power Pvt Ltd 1, Tata Power Co Ltd, Juniper Green Energy Pvt Ltd, ABC Renewable Energy Pvt Ltd, Ayana Renewable Power Four Pvt Ltd, AMP Energy Green Pvt Ltd, and O2 Power SG Pte Ltd.

In July 2020, SECI issued RfS for selection of renewable energy developers for setting up of solar PV projects on a BOO basis. Now, SECI will enter into a 25 year PPA with selected bidders. As per the RfS, the power procured from this project will be sold to Rajasthan Urja Vikas Nigam Limited (RUVNL).

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