Indian Solar Market Still A Favorite Among Developers

In Clean News, News, Renewable Energy, Solar

The Solar Energy Corporation of India (SECI) had issued a tender in March 2019 offering 750 megawatts of capacity to project developers in the state of Rajasthan.

The capacity was not part of any solar power park in the state and developers are free to set up projects at the sites of their choosing.

A total of six developers have submitted bids to develop a 1.1 gigawatt of capacity which is 1.5 times the offered capacity.

Some of the leading solar power project developers submitted bids for this tender.

Ayana Renewables (a subsidiary of UK’s CDC Group) and Hero Future Energies submitted bid offers to develop 250 megawatts of capacity each.

ReNew Power, NTPC Renewable Energy, Azure Power and Mahindra Solar submitted bids to develop between 100 and 200 megawatts.

The maximum tariff bid allowed in this tender has been set at 2.68/kWh which indicates that developers could bid very competitively and some of the lowest tariffs of recent times could be seen in this auction.

Some of the contributing factors that would encourage developers to submit very aggressive tariff bids include the requirement that developers sign the power purchase agreement with SECI, instead of a state government entity.

Other factors that make Rajasthan a favorable state for project developers is the high solar irradiance, easy land leasing rules, and availability of transmission network to support new solar power projects.

This is a Syndicate News-Feed; edited by Clean-Future Team

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