INR 2.74/kWh Lowest Bid In MSEDCL Auction

• The 1 GW solar power tender launched by MSEDCL in December 2018 has been auctioned; the winning bid was INR 2.74 ($0.038) per kWh
• The lowest bids were offered by Shiv Solar and ACME Solar that won 50 MW and 300 MW, respectively
• ReNew Power and Avaada Energy won 300 MW and 350 MW, respectively, for the same tariff of INR 2.75 ($0.038) per kWh

The best bid the Maharashtra State Electricity Distribution Company Limited (MSEDCL) has received for its 1 GW grid connected solar PV power project capacity it tendered in December 2018 was as low as INR 2.74 ($0.038) (see 1 GW PV Tender From MSEDCL).

The ceiling tariff was capped at INR 2.80 ($0.039) per kWh, which was later revised slightly upwards to INR 2.90 ($0.041) per kWh. Now, Mercom India Research reports both Shiv Solar and ACME Solar have offered a tariff of INR 2.74 ($0.038) per kWh winning 50 MW and 300 MW capacity, respectively.

ReNew Power won 300 MW for INR 2.75 ($0.038) per kWh, and for the same tariff, Avaada Energy won 350 MW even though it had bid for 500 MW. Mercom says the tender was oversubscribed by 900 MW.

In the previous 1 GW solar auction concluded by MSEDCL in May 2018, the best bid was lower a little lower at INR 2.71 ($0.0401) per kWh (see MSEDCL1 GW Tender Results).