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Wind Energy Tariffs Rise In India’s State-Level Auction

Wind energy tariffs in the latest auction in India are firming up even as competition among project developers remained high.

Wind energy tariffs in the latest auction in India are firming up even as competition among project developers remained high.

The Maharashtra State Electricity Distribution Company Limited (MSEDCL) offered a wind energy capacity of 500 megawatts in a recent auction. The tender was oversubscribed with fierce competition among prospective developers.

The largest winner in the auction was Torrent Power, which had placed a bid to develop 146 megawatts but was awarded 124.4 megawatts. It secured the capacity at Rs 2.87/kWh (4.42¢/kWh), the highest tariff bid of the auction. Mytrah Energy secured 100 megawatts at Rs 2.86/kWh (4.40¢/kWh) while Hero Wind Energy, Adani Green Energy, and KCT Renewable Energy won 75 megawatts each. Inox Wind also secured a 50 megawatt project.

Adani Green Energy and KCT Renewable Energy bid the lowest tariff of Rs 2.85/kWh (4.38¢/kWh). This lowest tariff is at a 17% premium to the lowest-ever wind energy tariff quoted in competitive auctions in India — Rs 2.43/kWh (3.7¢/kWh). The lowest tariff was discovered in another state-level auction in December 2017.

This was the first wind energy auction conducted by the state of Maharashtra following the widespread shift from a feed-in tariff regime to competitive auctions across India last year. By these standards, it is a good start. The first state-level wind energy auction was conducted in Tamil Nadu which resulted in the lowest tariff bid of Rs 3.42/kWh (5.3¢/kWh), which was the lowest tariff in India at that time. The sharp jump in tariff bids in the Maharashtra auction compared to the Gujarat auction could possibly be due to the comfort project developers have with the buying companies in terms of regular payments as well as availability of good sites to set up projects.

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