- SECI had launched the 450 MW tender in June 2016 under NSM Phase-II, Batch-IV
- The lowest winning tariff was 4.42 INR per kWh ($0.066)
- The list of winners includes some new names hitherto not very frequently heard of in the Indian solar circuit
- The largest portion of 130 MW was won by Solar Edge Power and Energy Private Limited
- The smallest portion of 10 MW went to Vijay Printing Press Private Limited
The Solar Energy Corporation of India (SECI) has announced winners of a tender it had floated for Maharashtra as part of the Jawaharlal Nehru National Solar Mission (JNNSM) Phase-II, Batch-IV. The list of winners includes some new names hitherto not very frequently heard of in the Indian solar circuit.
Winning with the lowest tariff of 4.42 INR per kWh ($0.066) was Vijay Printing Press Private Limited without viability gap funding (VGF). It won 10 MW capacity followed by Solar Edge Power and Energy Private Limited winning 130 MW and Lightsource Renewable Energy Holdings winning 50 MW. Apart from Vijay Printing Press, all the other winners won for the same tariff of 4.43 INR per kWh. Lightsource is a UK based solar power project developer.
Other bidders as ReNew Solar and IBC Solar Ventures lost the race owing to quoting too high VGF.
SECI, the implementing agency for all solar power projects under the country’s solar flagship program JNNSM, had issued tender documents in June 2016. It will sign power purchase agreements with all the winners as well as power sale agreements with the buying entities. The buying entities are power distribution companies, state utilities, bulk consumers at a pre-defined rate of 5 INR per kWh ($0.07) or less as determined by the Ministry of New and Renewable Energy (MNRE) based on prevalent market conditions (see SECI Tender For Maharashtra).