Connect with us

Hi, what are you looking for?

Two of India’s leading solar power developers have managed to win possibly the largest capacities ever awarded in a single tender in the country.

Clean Power

India’s Largest Solar Tender Yields Lowest Tariff Ever

Two of India’s leading solar power developers have managed to win possibly the largest capacities ever awarded in a single tender in the country.

Two of India’s leading solar power developers have managed to win possibly the largest capacities ever awarded in a single tender in the country.

Acme Solar and Azure Power managed to secure the rights to develop 600 megawatts of capacity each in the largest solar power tender issued by the Solar Energy Corporation of India to date. The tender is jointly the largest tender issued in the country ever. Tenders with 2 gigawatts of capacity each were issued by the states of Jharkhand and Telangana

The tender was issued in January this year, and attracted bids worth 2.95 gigawatts in the final round of auction from eight developers. Acme Solar and Azure Power each placed successful bids to develop 600 megawatt capacity. While Acme Solar placed the lowest-bid of Rs 2.44/kWh (3.55¢/kWh), Azure Power secured the capacity at Rs 2.53/kWh (3.69¢/kWh).

The bid of Rs 2.44/kWh (3.55¢/kWh) is jointly the lowest-ever in Indian solar power market. Acme Solar had placed a bid of Rs 2.44/kWh (3.55¢/kWh) for a 200 megawatt solar power project in the state of Rajasthan. The project is being developed in the Bhadla solar power park.

“With consistently offering most competitive tariff and highest solar power generation; ACME has become the leader in solar power generation in India. This has entrusted a huge responsibility on us to chart the future ahead in solar power in India. I am confident that with this addition of 600MW capacity, ACME will strive to achieve highest efficiency in solar power generation and strengthen its partnership with the Government in building a strong nation & economy.” – Shri Manoj Kumar Upadhyay, Founder and Chairman ACME Group

Other successful bidders include Shapoorji Pallonji (250 megawatts), Hero Future Energies (250 megawatts), and Mahindra Susten (250 megawatts). Adani Green Energy also placed a bid for 500 megawatts, but managed to secure only 50 megawatts due to over-subscription of the tender. ReNew Power Ventures and Fortum India, which bid for 250 megawatts each, failed to win any capacity due to higher tariff bid.

SB Energy and EDEN Renewable had also submitted technical bids to set up 600 megawatts and 250 megawatts, respectively, but did not participate in the financial bidding round.

This tender was the first in a long list of similar tenders that have already been launched and will be launched in the future by SECI. Under the conditions of these tenders, project developers will be free to choose the site for the project with no direct help from the government machinery. The developers will also have to apply for connectivity to the inter-state transmission network.

The reasons for such low tariff bids are multi-fold. One, the developers are free to set up projects wherever they want, and the capacity on offer is very large. Second, the power purchase agreements will be signed with SECI — a government-owned company — which represents very low risk. Third, no charges for transmission of solar power across different states.

Over the last few weeks, SECI launched a second tender with the same conditions and offered 3 gigawatts of capacity. Updates on technical bids submitted against it are awaited.

At the time of publication, comments from Acme Solar and Azure Power were awaited.

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.

Former Tesla Battery Expert Leading Lyten Into New Lithium-Sulfur Battery Era — Podcast:

I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there. In theory, your most exclusive and best content goes behind a paywall. But then fewer people read it! We just don't like paywalls, and so we've decided to ditch ours. Unfortunately, the media business is still a tough, cut-throat business with tiny margins. It's a never-ending Olympic challenge to stay above water or even perhaps — gasp — grow. So ...
If you like what we do and want to support us, please chip in a bit monthly via PayPal or Patreon to help our team do what we do! Thank you!
Written By

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


You May Also Like


The combination of technical, market and regulatory innovation sometimes brings old technical solutions back to life. Such is the case for synchronous condensers it...

Green Economy

Some of the leading global pension funds are vying for a stake in the latest renewable energy yieldco offering in India. According to media...

Green Economy

Global investment firm KKR has participated in the second fundraising exercise in sixth months for India-based Serentica Renewables. According to media reports, KKR has...

Green Economy

The Indian renewable energy company Avaada has secured a massive $1.07 billion from multiple investors, including Brookfield.  According to media reports, Brookfield Renewable, part...

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.