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India’s 250 MW solar auction concludes with lowest bid of $0.033/kWh

From pv magazine India

Tata Power has revealed that its TP Saurya Ltd. unit has secured the rights to develop a 250 MW grid-connected solar project at the Dondaicha Solar Park in the Indian state of Maharashtra. The developer won the auction by Maharashtra State Power Generation Co. Ltd. (Mahagenco) by quoting a tariff of INR 2.51 ($0.033) per kWh.

State-run SJVN and NTPC Renewable Energy also participated in the auction with bids of INR 2.53 and INR 2.82, respectively.

In January, Mahagenco opened bidding from solar power developers to set up 250 MW of grid-connected solar projects at the Dondaicha Solar Park in Dhule. The ceiling price for the procurement exercise was set at INR 2.83/kWh over a period of 25 years.

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The project, spread over an area spanning 499.27 hectares, must be commissioned within 15 months from the power purchase agreement date. It must also achieve financial close within nine months of signing the PPA. The project will be divided into three blocks of 50 MW, 75 MW, and 125 MW.

Last July, Tata Power won a 225 MW hybrid renewable power project. The installation was awarded to its wholly owned subsidiary, Tata Power Green Energy Ltd.

*The headline of the article was modified on April 5 to specify that the tender’s lowest bid was $0.033/kWh, and not $0.038/kWh as we previously reported.

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Source: pv magazine