INR 3.02/kWh Bid For 550 MW UPNEDA Solar Tender

• UPNEDA's 550 MW solar power tender received winning tariffs in the range of INR 3.02 to INR 3.08 ($0.0431 to $0.0440) per kWh, according to Mercom India Research
• NTPC has emerged as the L1 bidder offering INR 3.02 ($0.0431) per kWh for 85 MW
• EDF's Bastille Solar won the highest capacity with 2 projects of 70 MW each
• UPNEDA says it is happy with the outcome, will go ahead and offer letter of award to the winners

State backed Indian electricity utility National Thermal Power Corporation (NTPC) has offered the lowest bid of INR 3.02 ($0.0431) per kWh in the 550 MW solar power tender for grid-connected projects in the state of Uttar Pradesh. The Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) had tendered this capacity in October 2018 for a tariff of INR 3.10 ($0.042) per kWh (see 550 MW Solar Power Tender In Uttar Pradesh).

The tender was oversubscribed as UPNEDA received 795 MW of total bids against 550 MW offered (see SECI Awards 50 MW Floating PV Capacity).

NTPC offered this bid for 85 MW of capacity, followed by EDF's Bastille Solar quoting a tariff of INR 3.04 ($0.0434) per kWh for 70 MW and for another 70 MW in the same tender, it offered a tariff of INR 3.07 ($0.0439) per kWh, reported Mercom India Research.

Other winners included Giriraj Renewables (Avaada), Jakson Power, Mahoba Solar (Adani), Tata Power Renewable Energy Limited (TPREL). Winning tariffs ranged between INR 3.02 to INR 3.08 ($0.0431 to $0.0440) per kWh.

Speaking to Mercom, an official from UPNEDA said the agency is happy with the auction prices and will issue letter of award to the winners soon.

In the previous UPNEDA auction concluded in October 2018 for 500 MW grid connected solar power, it received a lowest tariff of INR 3.17 ($0.043) per kWh (see 500 MW UPNEDA Auction's Lowest Bid: INR 3.71/kWh).