SECI’s Rajasthan 750 MW (Tranche-I) Auction Sees Drop in Tariffs to 2.48/kWh

The Solar Energy Corporation of India (SECI) has announced that tariffs dropped to Rs 2.48/kWh in its 750 MW grid-connected solar power projects tender auction in Rajasthan under Tranche-I.

As per the nodal agency for executing renewable energy projects in the country, bids from 13 firms amounting to 2370 MW were acknowledged in response to the 750 MW tender. Of these 13 bids, nine bids (amounting to 1630 MW) were nominated to partake in the e-reverse auction after the opening of the financial bids.

And after the conclusion of the e-RA, Fortum Solar Plus, Palimarwar Solar House, ACME Solar Holdings, and Sitara Solar Energy emerged as the winners with the lowest fixed rate of Rs 2.48/kWh. The four lowest bidders were awarded the capacities they bid for i.e. 250 MW for Fortum, 40 MW for Palimarwar, 250 MW for ACME Solar and 100 MW for Sitara Solar Energy.

Renew Solar Power bid for developing solar projects worth 360 MW capacity but was awarded 110 MW after citing a tariff of Rs 2.49/kWh in the e-RA.

Azure Power Maple, Mahindra Susten, Rays Power Infra, and Green Infra Wind Energy quoted tariff rates of 2.5/kWh, 2.51/kWh, 2.52/kWh, and 2.56/kWh respectively and walked away from the tender with no awarded contracts.