Renewable Energy Service Companies (RESCO) bids have been finalized for the tender issued by Indraprastha Power Generation Co. Ltd. (IPGCL) for 35 MW of grid-connected rooftop solar photovoltaic (PV) projects. According to Mercom’s source at IPGCL, while the RESCO bids have been finalized now, CAPEX bids will be finalized soon.
According to the IPGCL official, “For Part A RESCO with project sizes between 25 kW to 50 kW, Networth Projects emerged as the lowest (L1) bidder by quoting a tariff of ₹3.13 (~$0.04)/kWh. For Part B RESCO, with project sizes between 50 kW to 100 kW, Sriram Cables emerged as the L1 bidder by quoting a tariff of ₹3.15 (~$0.04)/kWh. For Part C RESCO, with project size more than 100 kW, HFM Sola emerged as the L1 bidder by quoting a tariff of ₹2.85 (~$0.04)/kWh.”
Now, other bidders will have to match the L1 tariff in order to receive the orders from IPGCL. The IPGCL official informed that they have asked Tata Power to match the L1 bid, as they feel it is one of the best in terms of quality. “We (IPGCL) are open to awarding them up to 10 MW of capacity if they are ready to match the L1 bid,” the official added.
The IPGCL official further informed that in the domestic segment these are the lowest rates. In RESCO category, the state government is offering generation-based incentive of ₹2 (~$0.03)/kWh, so the tariff will be ₹0.85 (~$0.01)/kWh for some, while it will be ₹1.13 (~$0.02)/kWh and ₹1.15 (~$0.02)/kWh for others in the first year depending on the size of the projects. The tariff will escalate at the rate of 3 percent annually.
These rates are comparable to the ones recently quoted in Madhya Pradesh rooftop solar auction. According to the IPGCL official, “In Madhya Pradesh, they have provided an additional state subsidy of 20 percent which led to such low rates. In Delhi, no such subsidy has been provided, yet the rates are as competitive.”
IPGCL had issued the tender in December 2018.