The Solar Energy Corporation of India (SECI) has found few takers for its latest 1,200 MW solar power tender.
Only SB Energy, backed by Japanese conglomerate SoftBank, and the Chennai-based GRT Jewellers put in bids, multiple sources said. SB Energy bid for 450MW, while GRT wanted 150 MW. SECI, an arm of the renewable energy ministry, guarantees payments.
SECI set the ceiling tariff at Rs 2.65 per unit, which developers consider non-viable. Risks, too, have gone up after Andhra Pradesh recently renegotiated wind and solar power purchase agreements.
This is the first solar tender by SECI to get such a poor response.
Earlier this week, thermal power producer NTPC got no response for its 1200 MW solar power tender, forcing it to extend the deadline.
Solar power developers have a large deal pipeline, as 28.5 GW worth projects have been auctioned in the last 18 months.
This is a Syndicate News-Feed
