• Floated by the National Thermal Power Corporation (NTPC), 130 MW capacity was tendered for reverse bidding in the category open to any module origin
  • Award winners include Shapoorji Pallonji, Mahindra Susten and Prayatna Developers
  • Tariffs quoted in the tender ranged from $0.06 to $0.07 per kWh; the two lowest bids were at 4.35 INR per kWh ($0.06)

The National Thermal Power Corporation (NTPC), a state owned utility in India, has announced the winners of a tender in the state of Rajasthan for 130 MW solar power capacity projects. The lowest tariff range was 4.35 INR per kWh ($0.06), while the highest went up to 4.36 INR per kWh ($0.06).

Three Indian developers have won the total capacity, consisting of 13 projects each with 10 MW. Mahindra Susten Private Limited has won the biggest chunk – at 60 MW capacity. Shapoorji Pallonji Infrastructure Capital Company Private Limited has won 50 MW. Booth had bid for a tariff of 4.35 INR per kWh. Prayatna Developers Private Limited, which originally bid for 130 MW, has won the remaining 20 MW capacity for 4.36 INR per kWh ($0.06).

Many of the leading developers in India, including ReNew Solar, Fortum, Azure Power, Hero Solar, ACME and Orange Renewable failed to win any capacity, even though tariffs differed only slightly from winning bids.

The 13 projects of 10 MW capacity each in Rajasthan were tendered under the reverse bidding format for the so-called open category. The open category does not require developers to use locally manufactured solar cells and modules.

The lowest tariff – at 4.35 INR per kWh ($0.06) – is only slightly higher than the record low bid from 4.34 INR per kWh won by Fortum in a 420 MW tender in Rajasthan in January 2016. This time, Fortum’s bid was 4.55 INR per kWh ($0.07).