PPAs signed for 750 MW of solar in Rajasthan

The Solar Energy Corporation of India (SECI) has signed the power purchase agreements (PPAs) for 750-MW of grid-connected solar parks in the state of Rajasthan.

The contracts for five photovoltaic (PV) projects were sealed in September following two separate auctions at Bhadla that were completed in May, Mercom Capital said on Thursday. According to an unnamed source at SECI, developers will have to complete their projects within 12 months, or by September 2018.

The lowest tariff in the 500-MW tender was INR 2.44 (USD 0.038/EUR 0.032) per kWh, being offered by Acme Solar Holdings Pvt Ltd for 200 MW of photovoltaic (PV) capacity under the Bhadla Phase-III auction. An additional 300 MW of capacity tendered within the same tranche will be installed by SBG Cleantech, which gave a tariff of INR 2.45 per kWh.

The remaining 250 MW of the capacity was tendered in the Bhadla Phase-IV auction and was won by three companies.

The table below shows details about the companies with the lowest bids:

Company/Bidder Offered capacity (MW) Quoted tariff (INR/kWh)
Phelan Energy Group 50 2.62
Avaada Power Pvt Ltd 100 2.62
SBG Cleantech 100 2.63

In June, SECI launched another 750-MW solar tender at Bhadla, the capacity in which is again divided in two portions of 500 MW and 250 MW. Bidding is open until December 5.