SECI’s Latest Solar Auction Witnesses Drop in Tariffs to Rs. 2.5/kWh

Solar Energy Corporation of India (SECI) has announced that NTPC, Mahindra Susten, Hero Solar Energy and Azure Power Maple have emerged as the lowest bidders in the latest auction for the Rajasthan 750 MW solar Tender under Tranche-II.

The four firms cited a tariff of Rs 2.5 per unit each in a reverse auction conducted by the SECI for Rajasthan Tranche II (750 MW) projects.

SECI had released the Notice Inviting Tender (NIT) for the development of the 750 MW solar power projects in Rajasthan (Tranche-II Non-Solar Park) in March, 2019.

It is assumed that NTPC bid for 160 MW in Rajasthan Tranche-II 750-MW solar tender, while Mahindra Susten submitted a bid for 200 MW. Likewise, Hero Solar Energy showed interest for 250 MW and Azure Power Maple wanted 100 MW out of this auction.

With this auction, NTPC has won an aggregate solar capacity of 505 MW so far under tariff-based competitive bidding tenders of states, a source said.

The tariffs had hit the lowest rate of Rs 2.44 per unit in May 2017 for Rajasthan’s Bhadla projects. Later also, the tariffs had touched the low of 2.44 per kWh at least twice.