INR 2.69 Lowest Tariff for SECI Hybrid Tender

• SECI's 1.2 GW wind solar power hybrid tender gets interest from only 2 companies, reports Mercom India Research
• Adani Green Energy has been successful in securing 600 MW by quoting lowest bid of INR 2.69 ($0.0387) per kWh
• ReNew Power had quoted at the benchmark tariff of INR 2.70 ($0.0389) per kWh hoping to win 300 MW, but had to settle for 120 MW

A 1.2 GW solar wind hybrid power project tender launched by the Solar Energy Corporation of India (SECI) in February 2019 under the National Solar Mission's tranche-II has attracted INR 2.69 ($0.0387) per kWh as the lowest bid (L1). Adani Green Energy quoted this tariff for 600 MW capacity, according to Mercom India Research.

Another successful bidder was ReNew Power that offered INR 2.70 ($0.0389) per kWh to develop 300 MW, but SECI has decided to award the company only 120 MW.

The 1.2 GW tender with a ceiling tariff of INR 2.70 ($0.0389) per kWh was undersubscribed by 300 MW, receiving bids for only 900 MW, according to Mercom which cited a higher tariff cap as the reason for lack of enthusiasm among developers (see SECI Auctions 250 MW For Dondaicha Solar Park).However, finally SECI has awarded only 720 MW of the total 1.2 GW on offer.

It gives a sort of déjà vu since the first hybrid solar wind auction by SECI received INR 2.67 ($0.03794) per kWh as the lowest winning bid by SoftBank's SB Energy in December 2018. Adani Green won 390 MW for INR 2.69 ($0.03822) per kWh and these 2 were the only  bidders that expressed their interest for the tender. The ceiling tariff for that tender was also fixed at INR 2.70 per kWh (see Only 2 Bidders For SECI's Wind-Solar Auction).