In Q2, India’s solar tender activity has picked up pace as big volumes are offered for bidding. Auctioned capacity is not at par but is growing nonetheless.
- India tendered 1,359.77 MW of solar power capacity in June 2017
- Auctioned capacity in the same period was 1.5 GW, entirely coming from TANGEDCO
- In Q2, a total of 3.6 GW was tendered and 2.5 GW auctioned
- In Q1, 1.9 GW was tendered and 1.3 GW auctioned
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In June solar tender and auction activity in India continued on a rather high level after rather low numbers in the first 4 months of the year.
The month of June 2017 saw India tendering 1,359.77 MW of solar power capacity. While this was lower than the over 2 GW tendered in the previous month, the auctioned capacity for June was 1.5 GW compared to 755 MW in May 2017, as per Mercom Capital Group’s estimates. In April, there was only 264 MW tendered and 250 MW auctioned in India.
In general, auction and tender activity was much stronger in Q2 over Q1, when only 1.3 GW was auctioned and 1.9 GW was tendered. In Q2, a total of 3.6 GW was tendered and 2.5 GW auctioned.
In June, the entire auctioned capacity of 1.5 GW in June came from the Tamil Nadu Generation and Distribution Corporation (TANGEDCO), where the capacity was won for a tariff of 3.47 INR ($0.0536) per kWh.
As for tendered capacites in June, Gujarat Urja Vikas Nigam Limited (GUVNL) tendered 500 MW (see Gujarat Tenders 500 MW) to be able to meet its renewable purchase obligation (RPO). Solar Energy Corporation of India (SECI) launched two tenders of 500 MW and 250 MW capacity at Bhadla Phase-III and Bhadla Phase-IV Solar Park (see SECI Tenders 750 MW In Rajasthan). This capacity will supply power to the state of Uttar Pradesh so as to make the most of waiving of interstate transmission charges (see India Extends Solar Waiver Period).