SB Energy has won the project at Rs 2.67 per unit of electricity generated while Adani Green Energy won at Rs 2.69 per unit at the auction.
In the Solar Energy Corporation of India’s (SECI’s) first wind-solar hybrid auction of 1,200 MW capacity, SoftBank-backed SB Energy and Adani Green Energy won 450 MW and 390 MW respectively.
Further, SB Energy has won the project at Rs 2.67 per unit of electricity generated while Adani Green Energy won at Rs 2.69 per unit at the auction.
According to an Executive from the SECI, “This is a good price for the first time. Perhaps since it is so because it is the initial estimate. With more optimisation comes competition. It is also dependent on individual efficiencies of panels of turbines, so tariffs will keep falling.”
These were the only two developers who put in bids in the auction, leaving the remaining 360 MW with no takers. This is the second time SECI had put this bid. In the first attempt in May, there were no bidders at all. It was scaled down from 2,500 MW to 1,200 MW.
Hybrid power is one in which solar and wind power is generated together by placing solar modules and wind turbines alongside each other.
This reduces the requirement of land and transmission facilities, and hence SECI is keen to encourage it. Analysts though have doubts about the process.
“This is a face saving exercise—to run an auction between two people for two projects is not really an auction in a sense,” said Vinay Rustagi, Managing Director at solar consultancy Bridge To India.