BREAKING: ReNew, Avaada and Azure Win Bids to Develop 550 MW of Solar Projects in Pavagada

The Karnataka Renewable Energy Development Limited (KREDL) has auctioned 550 MW of grid-connected solar photovoltaic (PV) projects to be developed at the Pavagada Solar Park in Tumkur district of the state.

The winners of the auction are ReNew Power, which would develop 300 MW, Avaada Power which has won 150 MW, and Azure Power which has won the capacity of 100 MW.

The final list of the winners will be released in a few days, after the state government gives its approval.

Speaking to Mercom, an official working with KREDL said, “The final proposal has been sent to the state government. Once it approves, then we will release the final winner list with the tariffs.”

“We will be retendering the remaining capacity of 650 MW from this auction,” the official added.

The Letters of Intent (LoIs) for 550 MW have been issued to the winning developers, the KREDL official told Mercom.

When contacted, an official at Karnataka Solar Power Development Corporation Limited (KSPDCL) told Mercom, “The 50 MW blocks have been assigned to the winners of 550 MW grid-connected solar PV projects in the latest KREDL auction.”

The entire Pavagada Solar Park has been split into 50 MW blocks for better evacuation of power once the grid-connected solar PV projects are ready.

Due to uncertainties surrounding the solar sector in India, the KREDL was not able to auction the total tendered capacity of 1,200 MW. KREDL had initially tendered the capacity in January 2018. Due to the prevailing ambiguities, KREDL had later extended the bid submission deadline for its 1,200 MW grid-connected solar PV project tender.

Mercom previously reported that more than 2 GW of planned solar tenders have been postponed across three Indian states recently as the bidders have been deterred by the ongoing uncertainty around proposed duties on critical project components, which have made it difficult to forecast project costs and viable bids.

According to Mercom’s India Solar Project Tracker, 600 MW was auctioned in the year 2016 under the first phase of Pavagada Solar Park’s development. The capacity was grid-synchronized in January 2018.

In the previous 600 MW auction for grid-connected solar PV projects at Pavagada Solar Park, the tariffs quoted were in the range of ₹4.79 (~$0.073)/kWh to ₹4.80 (~$0.073)/kWh for open category projects.

Saumy Prateek Saumy is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism & Mass Communication from the Manipal Institute of Communication at Manipal University. More articles from Saumy Prateek.