Connect with us

Hi, what are you looking for?

Four developers have secured rights to develop a cumulative of 1,000 megawatts in the first-ever wind energy auction held in India.

Clean Power

Indian Wind Prices Reach Record Low In 1 Gigawatt Auction

Four developers have secured rights to develop a cumulative of 1,000 megawatts in the first-ever wind energy auction held in India.

Originally published on Cleantechies.

Four developers have secured rights to develop a cumulative of 1,000 megawatts in the first-ever wind energy auction held in India.

According to media reports, the four project developers were allocated 250 megawatts capacity each at a tariff of Rs 3.46/kWh (5.2¢/kWh) in the auction, which was organised by the Solar Energy Corporation of India. Mytrah Energy, Green Infra, Inox Wind, and Ostro Energy were the successful bidders.

Mytrah Energy and Green Infra are expected to set up projects in the state of Tamil Nadu, while Inox Wind and Ostro Energy will likely set up projects in the state of Gujarat. The companies will sell electricity generated to Power Trading Corporation of India, which will in turn sign power sale agreements with interested utilities across the country.

All companies except Inox Wind are project developers, while Inox Wind is a turbine manufacturer. Another project developer, Adani Enterprises, also placed a bid of Rs 3.46/kWh (5.2¢/kWh) but could not get any capacity allocation.

The tariff discovered in the auction is lower than the feed-in tariff offered by any state. The lowest feed-in tariff offered is Rs 4.16/kWh (6.2¢/kWh) in Tamil Nadu. Although, Rs 3.82/kWh (5.7¢/kWh) is offered in the state of Maharashtra at sites with low wind speeds.

Apart from Inox Wind, another turbine manufacturer participated in the auction. Gamesa India quoted a tariff of Rs 3.68/kWh (5.5¢/kWh) and failed to make the cut. ReNew Power Ventures, one of the leading project developers in India, also failed to grab any capacity, as it quoted a tariff of Rs 3.47/kWh.

Wind Follows Solar’s Trend In India

The sharp correction in the price of wind power comes just days after India saw its lowest ever solar power tariff in an auction of 750 megawatts capacity. Solar power tariffs in the auction for the Rewa solar power park collapsed from a previous low of Rs 4.34/kWh (6.5¢/kWh) to Rs 2.97/kWh (4.5¢/kWh) — although, the levelized tariff for the 25 year period will be Rs 3.30/kWh (4.9¢/kWh).

Indian Bids In Line With Global Trends

The tariff bids seen in India’s first-ever auction are in line with those prevalent in other markets. According to the International Renewable Energy Agency (IRENA), tariff bids for wind energy projects have converged around 4.0¢/kWh. Auctions held in Mexico, Egypt, Chile, and Morocco were around the 4.0¢/kWh mark. Interestingly, tariff bids in developed countries – the United Kingdom, Italy, Australia, and Canada – were above 6.0¢/kWh.

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Written By

An avid follower of latest developments in the Indian renewable energy sector.


You May Also Like

Clean Transport

2022 has been an exciting year for the Indian EV market. Hence it makes sense to take stock of things on where we are...


Although most vehicular traffic in India is two- and three-wheeled, it is still exciting to see the numbers of four-wheeled personal vehicles going electric...


As the world accelerates the transition to electric vehicles, it is important for the world’s largest markets to lead the way in terms of...


At the coal face of a conference that involved governmental figures, academics, logistics customers and OEMs, the detailed technical conversations are almost all about...

Copyright © 2023 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.