Tamil Nadu Receives Bids For 3.7 GW

Indian Tamil Nadu utility TANGEDCO’s 1.5 GW Tender Oversubscribed By Almost 150%
05:31 PM (Beijing Time) - 16. June 2017
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Key Takeaways

  • Tamil Nadu utility TANGEDCO has received technical bids for 3,700 MW for a tender
  • This means the 1,500 MW tender has been over-subscribed by 146%
  • Lower winning tariffs in the Bhadla Solar Park recently seems to have inspired developers, say officials
  • TANGEDCO is expected to open price bids on June 30, 2017 for the tender

Tamil Nadu has received an enthusiastic response – with 3,700 MW of technical bids – to its 1,500 MW tender. It means that the tender issued in May 2017 was over-subscribed by 146%.

Tamil Nadu Generation and Distribution Corporation (TANGEDCO) had launched the tender with a maximum tariff limit of 4.00 INR ($0.062) per kWh (see TANGEDCO Tenders 1.5 GW PV Capacity). Developers were expected to bid for a minimum of 1 MW capacity and a maximum of up to 500 MW.

It should come as a confidence booster for TANGEDCO that had suffered with two consecutive 500 MW tenders receiving not a very warm response from developers previously (see Another 500 MW Solar Tender In Tamil Nadu).

Indian solar tariffs touched a new low with the recent Bhadla Solar Park Phase III reporting lowest winning tariff of 2.44 INR ($0.037) per kWh (see ACME Wins 200 MW At 2.44 INR Record). This has changed the ‘dynamics of the sector’ according to Mercom Capital, which talked to a TANGEDCO official. “There is a race to develop projects and this proved beneficial for TANGEDCO,” he reportedly said.

According to Mercom Capital, the price bids are expected to open on June 30, 2017.

 

Anu Bhambhani

Anu Bhambhani is the News Editor of TaiyangNews

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Anu Bhambhani