In the latest tender results revealed in India, the lowest winning tariff was revealed to be 2.71 INR ($0.0401) per kWh. The Maharashtra State Electricity Distribution Company Limited (MSEDCL) auctioned the entire 1 GW solar power capacity it tendered in April 2018 (see 1 GW PV Capacity Tendered In Maharashtra).
This, according to Mercom India Research, is the lowest solar tariff for a grid connected solar PV project in the state of Maharashtra. Mercom had earlier reported that the tender was oversubscribed by 450 MW, receiving 1,450 MW of total bids. MSEDCL attributes the high interest among developers to a 'pass through option' of costs in case of implementation of any new duties.
The lowest winning bid of 2.71 INR ($0.0401) was offered by JLTM Energy India, the local subsidiary of French EPC provider and developer Technique Solaire, and Adani's Mahoba Solar UP Private Limited. While JLTM won only 20 MW capacity, Mahoba secured 200 MW for the same winning tariff.
Other winners were ReNew Power, ACME Solar, Tata Power Renewable Energy and Azure Power, each winning different capacities for the same winning tariff of 2.72 INR ($0.0402) per kWh. The largest batches of 250 MW each were won by ReNew Power and ACME Solar.
In the recently concluded NTPC auction for 750 MW PV in Andhra Pradesh, the lowest winning tariff was at a very similar level – 2.72 INR ($0.0403) per kWh (see Three Winners In 750 MW Andhra Pradesh Auction).