New Record Low Solar Tariff In India @ INR 2.00/kWh

1.07 GW SECI Solar Auction For Rajasthan Attracts Lowest Tariff In India With INR 2.00/kWh, Offered By Aljomaih Energy & Water, And Green Infra Wind Energy: Mercom
06:58 PM (Beijing Time) - 24. November 2020
Presentation1

All the past 3 solar PV auctions in India that have secured lowest PV tariffs are SECI projects. The latest record low for the Indian market is discovered at INR 2.00 per kWh, according to Mercom India Research.

Key Takeaways

  • SECI’s 1.07 GW solar auction for Rajasthan has attracted lowest PV tariff of INR 2.00 per kWh
  • It was quoted by Al jomaiah Energy and Water Company of Saudi Arabia and Green Infra Wind Energy Limited, a Sembcorp subsidiary
  • NTPC quoted 2nd lowest bid of INR 2.01 per kWh for 470 MW capacity even though it bid for 600 MW capacity

 


There is a new low for Indian solar PV tariffs as the Solar Energy Corporation of India (SECI) attracted INR 2.00 ($0.0270) per kWh as the lowest bid in a 1.07 GW utility scale solar auction launched by the agency in July 2020 for Rajasthan under tranche-III (see 1.07 GW SECI Solar Tender For Rajasthan).

For the record, this is lower than the previous low of INR 2.36 per kWh won by Spain’s Solarpack for a 300 MW project in the 2 GW interstate transmission system (ISTS)-IX SECI auction in June 2020 (see New Solar Tariff Record In India: INR 2.36/kWh).

Citing unnamed sources, Mercom India Research said the INR 2.00 per kWh was quoted by Saudi Arabia’s Al Jomaih Energy and Water Company for 200 MW capacity, as well as by Singapore’s Sembcorp subsidiary Green Infra Wind Energy Limited for 400 MW project capacity.

Indian state owned electricity utility National Thermal Power Corporation quoted the 2nd lowest bid of INR 2.01 ($0.0272) per kWh to secure 600 MW capacity but was awarded 470 MW under bucket filling method. The tender was oversubscribed with 14 companies expressing interest to develop a total of 4.35 GW capacity.

Interestingly, the highest bid quoted for this auction was INR 2.43 per kWh which is lower than INR 2.44 per kWh—discovered for the 1st time in a May 2017 auction of SECI for Rajasthan’s Bhadla Solar Park and was offered by ACME Solar (see ACME Wins 200 MW At 2.44 INR Record).

 

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani