A 300 MW grid connected solar PV tender launched in India by Torrent Power Limited (TPL) in December 2020 in Gujarat has 2 winners, according to Mercom India Research. One of the winners is another Torrent Power entity, Torrent Power Generation.
The other winner is Adani Green Energy, both of whom quoted INR 2.22 ($0.03) per kWh to win 150 MW each. This tariff is higher than INR 1.99 per kWh the Gujarat Urja Vikas Nigam Limited (GUVNL) secured as the country's historic low for a solar tender in December 2020 for a 500 MW solar auction (see Historic Low For Indian Solar Tariffs @INR 1.99/kWh).
The 2 winners are now eligible to sell solar power to TPL from this 300 MW capacity in the state of Gujarat. TPL, a distribution licensee in the cities of Ahmedabad, Gandhinagar, Surat, Dahej SEZ and Dholera SIR in Gujarat, will enter into a power purchase agreement (PPA) with successful bidders for 25 years.
Mercom says the tender received good response from a number of companies and was oversubscribed.
After eliciting a tepid response to the tender 2 times it was launched and re-launched in January 2019 and August 2019, respectively, TPL got 3rd time lucky with the tender when it was re-issued in December 2020.