- Mercom India Research says GUVNL has received lowest bid of INR 2.55 ($0.0357) per kWh for its 500 MW tender it launched in January 2019
- The next 3 bidders have offered the same tariff of INR 2.67 ($0.0373) per kWh
- ReNew Power bid for 250 MW but had to settle for 105 MW for a tariff of INR 2.68 ($0.0375) per kWh
- In another solar tender of 750 MW issued by SECI for Rajasthan, it has received bids totalling 2.37 GW
The 500 MW grid connected solar PV power tender of Gujarat Urja Vikas Nigam Ltd (GUVNL) has attracted the lowest bid (L1) of INR 2.55 ($0.0357) per kWh from Paryapt Solar, a special purpose vehicle of UPC Solar. The company bid for 50 MW, according to Mercom India Research.
The tender was launched in early January 2019 under India’s National Solar Mission Phase IV to be set up in Gujarat (see 500 MW GUVNL Tender Launched).
Next 3 bidders Gujarat State Electricity Corporation Limited (GSECL), Orange Solar (Juniper Green Energy) and Adani Renewables, which quoted the same tariff of INR 2.67 ($0.0373) per kWh for 75 MW, 120 MW and 150 MW respectively. ReNew Power bid for 250 MW but had to settle for 105 MW for a tariff of INR 2.68 ($0.0375) per kWh.
Tata Power with its bid of INR 2.76 ($0.0386) per kWh for 150 MW was not selected.
GUVNL is yet to take the final call about the winners since there is a difference of 12 paise ($0.001) between L1 and second lowest bid (L2). While the discovered L1 tariff is lower than INR 2.84 ($0.046) per kWh achieved in December 2018 for GUVNL’s 700 MW solar auction, it is higher than INR 2.44 ($0.0338) per kWh it received for the previous 500 MW capacity it auctioned in September 2018, post a re-tendering.
This raises the fear of auction cancellation by GUVNL, as happened in the past, said a developer Mercom spoke to (see Another Solar Auction Cancelled In India).
750 MW Rajasthan tender oversubscribed
In a related tender news from India, the Solar Energy Corporation of India (SECI) has been inundated with bids amounting to 2.37 GW for its 750 MW tender capacity in Rajasthan. Mercom says 13 companies have bid for this capacity and these include the likes of ReNew Power (360 MW), Eden’s Duroc Solar (300 MW), Shapoorji Pallonji (250 MW), ACME Solar (250 MW), Fortum (250 MW) Mahindra (200 MW), Sembcorp (200 MW), among others.
SECI tendered this capacity in August 2018 to be developed across Rajasthan with a tariff limit of INR 2.93 ($0.0427) per kWh (see 750 MW PV Tender In Rajasthan).