SECI Announces Results of 1800 MW of Solar, Wind Solar Projects

Highlights :

  • Ayana Renewable Power and Fortum were declared winners with 300 MW each for the 1200 MW Solar (Tranche X) projects in Karnataka.
  • In the 1200 MW Wind Solar Hybrid Tender, it was NTPC, NLC India, Ayana Renewable and Azure Power that won 450 MW, 150 MW, 450 MW and 150 MW respectively with a bid at Rs 2.34 each. with Azure bidding at Rs 2.35/unit.
SECI Announces Results of 1800 MW of Solar, Wind Solar Projects

On a big day for tender results, SECI has announced the winners of the tender for 1200 MW solar projects in Karnataka, under Tranche X of its tendering programme. Ayana Renewable Power (Represented by Project Eight Renewable Power Private Limited) and Fortum (Represented by SolarOne Energy Private Limited) have been awarded 300 MW each at a bid price of Rs 2.36 and Rs 2.37 per unit respectively. SECI has planned to close out the bidding for the remaining 600 MW on Feb 4 this week.

These projects will necessarily be linked to the ISTS sub stations at Gadag and Koppal, and in a late modification, land acquisition is also the developers job now. That might explain the aggressive bids by Ayana and Fortum, both considered much stronger in the region. Projects need to be completed within 18 months after award of LOA’s and signing of PPA’s. Missing out in this tender at 3 and 4 were Renew Power (bid at Rs 2.39) and Tata Power ( Bid at Rs 2.65)

In the other notable tender declared today, SECI announced the winners of its 1200 MW Wind Solar Hybrid projects after the final E-Ra (E-reverse auction), first released in April last year. The winners, with an identical bid of Rs 2.34 each are Public sector firms NTPC and NLC India, who get 450 MW and 150 MW respectively. The other winner at Rs 2.34, again Ayana Renewable, which has also won 450 MW (through Project Ten Renewable Power Private Limited), while Azure Power, which bid for 300 MW at Rs 2.35, makes do with 150 MW. Missing out after the 4 top winners were Renew Power (bid at Rs 2.35) and Hero Solar (bid at Rs 2.40)

The bids can be considered fairly aggressive, considering the pressure that the start of Basic Customs Duty (BCD) is likely to place on prices from April 1 this year. However, with actual procurement and ordering only after a few months, winners are clearly hoping to see continued moderation in the elevated prices by the time they place their equipment orders.

In both cases, the prices match, or are very close to the earlier tender results, indicating a kind of lock on sub Rs 2.40 prices for both large Solar, as well as Wind Solar Hybrid tenders for now. That is increasingly a level that both the centre, and various state discoms seem comfortable with, as we have increasingly been told that it is prices beyond Rs 2.70 when discoms start to feel uncomfortable now.

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Prasanna Singh

Prasanna has been a media professional for over 20 years. He is the Group Editor of Saur Energy International