SECI’s 1.2 GW Solar Tender Oversubscribed

• The 1.2 GW ISTS-connected solar power tender tranche-IV from SECI has been oversubscribed by 900 MW, according to Mercom
• Avaada has expressed interest in developing the largest capacity of 350 MW, while Mahindra has offered to build 250 MW
• Remaining bidders, namely Azure Power, SB Energy, Ayana Renewables, UPC Solar and ReNew Power have bid for 300 MW each

The Solar Energy Corporation of India Limited (SECI) is in receipt of bids totalling 2.1 GW of capacity for its 1.2 GW interstate transmission system (ISTS)-connected solar PV project tender, tranche-IV it issued in February 2019 (see SECI Tenders For Over 4 GW Renewable Energy).

A SECI official told Mercom India Research that the tender is oversubscribed by 900 MW. The tariff cap for this tender was INR 2.65 ($0.038) per kWh.

Among interested bidders, Avaada expressed interest in developing 350 MW, while Azure Power, SoftBank's SB Energy, Ayana Renewables, UPC Solar, ReNew Power each bid for 300 MW; Mahindra submitted a bid for 250 MW.

In the last 1.2 GW ISTS-connected tender, tranche-III, launched by SECI in January 2019, ReNew Power had quoted the lowest bid of INR 2.55 ($0.0359) per kWh for 300 MW (see INR 2.55/kWh Lowest Bid For SECI 1.2 GW Tender).

In any case, the oversubscribed tender should be music to SECI's ears as its 1.2 GW solar wind hybrid tender was undersubscribed by 300 MW, and finally it auctioned only 720 MW of the total capacity offered with lowest bid being INR 2.69 ($0.0387) per kWh (see INR 2.69 Lowest tariff For SECI Hybrid Tender).