The wind tariff in India touched lowest level of Rs.2.64 per kWh in the second wind auction conducted by the Solar Energy Corporation of India (SECI) on behalf of Ministry of New & Renewable Energy, Government of India yesterday. The tariff discovered is much lower than first wind auction concluded at Rs. 3.46 per kWh in February this year. With improving technology and reducing tariffs Ministry is not only confident of achieving the target of 175 GW by 2022 but exceeding it.
Against the 1000 MW capacity SECI received 12 number of bids totalling to 2892 MW capacity of which 9 bids with a cumulative capacity of 2142 MW were shortlisted for e-reverse auction. The auction started at 3 pm on 4 October and continued for over 13 hours. Five winners selected for total 1000 MW capacity wind power projects include ReNew Power for 250 MW projects quoting Rs.2.64/kWh, Orange Sironj for 200 MW projects quoting Rs.2.64/kWh, Inox Wind for 250 MW projects quoting Rs.2.65/kWh, Green Infra for 250 MW projects quoting Rs.2.65/kWh and Adani Green for 50 MW projects quoting Rs.2.65/kWh. These wind projects are to be commissioned within 18 months from the date of issue of Letter of Award by SECI to successful bidders.
As per provisions of scheme additional 100 MW capacity can be allotted to Central Public Sector Enterprises (CPSEs) willing to undertake development of inter-state transmission system (ISTS) connected wind power projects at the lowest bid tariff of Rs.2.64/kWh, for which they have to submit their proposal within 30 days from the declaration of results of e-reverse auction.
The power from these projects will be supplied to obligated entities for fulfilment of their non-solar RPO obligation at pooled price of capacity selected.
After success of first wind auction resulted in discovery of record low wind tariff of Rs. 3.46 per kWh in February 2017, the Ministry of New & Renewable Energy sanctioned second wind auction Scheme for setting up of 1000 MW ISTS connected Wind Power Projects on 4 May 2017. SECI issued bids on 30 May 2017 and bids were closed on 14 July 2017. Auction was earlier scheduled for 19 September 2017 and the same was postponed to 4 October 2017 as CERC order on the issue of grid connectivity that is being faced by the successful bidders in the first wind auction was awaited.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)