Connect with us

Hi, what are you looking for?

Image: Zach Shahan - CleanTechnica

Clean Power

Soft Bank, Total-EDF Subsidiaries Score 900 Megawatts Of Solar In India

Large developers are back participating in Indian solar power tenders following concessions from the government.

Large developers are back participating in Indian solar power tenders following concessions from the government.

Image: Zach Shahan –

The eighth edition of national-level solar power auctions organized by the Solar Energy Corporation of India (SECI) offered 1.2 gigawatts of solar power capacity. The auction received tremendous response, with bidders offering to install 3.5 gigawatts of capacity.

The largest winner in the auction was SB Energy, a subsidiary of Softbank. The company secured 600 megawatts of capacity at ₹2.50/kWh (US¢3.39/kWh). This is SB Energy’s largest-ever win in an Indian solar power auction. AMP Energy, a new entrant to large-scale solar power auctions, managed to grab 100 megawatts while the experienced EDEN Renewables secured 300 megawatts. Both the companies matched the lowest bid of ₹2.50/kWh (US¢3.39/kWh).

ReNew Power, one of India’s largest renewable energy companies, secured rights to develop 200 megawatts of the 600 megawatts of capacity it had bid for. The company bid at ₹2.51/kWh (US¢3.40/kWh).

The tariff bid is a decline of around 9% from the lowest bid in the previous similar auction organized by SECI. The over-subscription to this tender is also a result of addition of a crucial clause to the power purchase agreement.

The new clause allows for changes in tariff based on any increase or decrease in project cost. These changes include impact of safeguard duty on cost of imported modules. This is perhaps the first instance when SECI has proactively decided to compensate developers for increased project costs.

SECI is planning to take more similar measures to attract developers to auctions. We recently reported that the Ministry of New and Renewable Energy is planning to remove ceiling tariffs for solar and wind energy auctions.

India significantly lags behind its 2022 solar and wind energy targets. Through these measures the government hopes to bring the capacity addition rate on an aggressive track.

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

Smiti works as a senior solar engineer at a reputed engineering and management consultancy. She has conducted due diligence of several solar PV projects in India and Southeast Asia. She has keen interest in renewable energy, green buildings, environmental sustainability, and biofuels. She currently resides in New Delhi, India.


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.