SECI Discovers Rs 2.34 Price In 1200 MW Solar Wind Hybrid Auction

NTPC Limited, NLC India, Mission Ten Renewable Energy (Ayana Renewable Energy), and Azure Energy emerged as the winners in the Solar Energy Corporation of India’s (SECI) auction for 1,200 MW solar-wind hybrid projects (Tranche-IV) related to the Interstate Transmission System (ISTS). The final winning bid was at Rs 2.34/unit.

Bids by other majors like ReNew Power, Hero Future Energies, Adani Green, and AMP energy came in at Rs 2.40 or higher.

NTPC, Ayana and NLC quoted Rs. 2.34/kWh each and won 450 MW, 450 MW, 150 MW, respectively. Azure won 150 MW at Rs 2.35.

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Renewable energy developers have to take into account the basic customs duty (BCD) for all bids henceforth, which was expected to yield tariffs of 2.40 and above.

SECI had released the tender document in April earlier this year, as per which the hybrid power projects are to be designed for interconnection with the transmission network of the central transmission utility at the voltage level of 220 kV or above. The hybrid power project is to involve one solar and one wind power project.

Prior to this, the previous hybrid project bid came in at Rs 2.41 for Adani, AMP, and Axis Energy.

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The low prices would have surprised quite a few people, although they could be expected, considering the intense competition and fresh fund raises achieved by most developers.