Almost 20 GW of solar projects were auctioned in India in 2021. The lowest tariff discovered in these auctions was ₹2.14 (~$0.028)/kWh, an increase of nearly 8% compared to the lowest tariff of ₹1.99 (~$0.027)/kWh discovered in the Gujarat Urja Vikas Nigam Limited’s (GUVNL) (Phase XI) auction for 500 MW of solar projects in 2020.
Here is a list of the five lowest solar tariffs discovered in auctions in 2021:
#1 TP Saurya and AlJomaih Energy and Water Company were declared winners in the Rewa Ultra Mega Solar Limited’s (RUMSL) auction for 500 MW projects at the Neemuch Solar Park in Madhya Pradesh. The auction registered the lowest tariff for the year.
TP Saurya won a capacity of 170 MW quoting ₹2.14 (~$0.028)/kWh and 160 MW quoting ₹2.149 (~$0.0289)/kWh. Aljomaih Energy and Water Company won 170 MW at a tariff of ₹2.15 (~$0.0289)/KWh.
#2 Calpine Subsico Solar Energy, a subsidiary of UPC Renewables, NTPC, Sprng Energy, Metka EGN Singapore Pte, ReNew Power, and ACME Solar were declared winners in the Solar Energy Corporation of India’s (SECI) auction for 1,785 MW of solar power projects (Tranche IV) in Rajasthan.
NTPC Renewable Energy (NTPC Limited subsidiary) won a capacity of 500 MW, Sprng Energy Natural Power Source, a special purpose vehicle (SPV) of Sprng Energy won 200 MW, Calpine Subsico Solar Energy (an SPV of UPC Renewables) 90 MW, and Metka EGN Singapore Pte 20 MW, each quoting ₹2.17 (~$0.0289)/kWh. ReNew Solar Power won 600 MW, while ACME Solar, which had bid for the entire 1,785 MW of capacity, was allotted 375 MW. Both the companies quoted ₹2.18 (~$0.02904/kWh.
#3 Sprng Ujjvala Energy, NTPC Renewable Energy, Coal India, and TP Saurya – a Tata Power subsidiary – were declared winners in GUVNL’s auction to purchase power from 500 MW of grid-connected solar projects (Phase XII).
Sprng Ujjvala Energy won a capacity of 120 MW quoting ₹2.20 (~$0.030)/kWh. NTPC Renewable Energy, Coal India, and TP Saurya won 150 MW, 100 MW, and 60 MW, respectively, quoting ₹2.20 (~$0.030)/kWh. SJVN quoted 100 MW at ₹2.21 (~$0.030)/kWh and won 70 MW capacity under the bucket filling method.
#4 Torrent Power Generation and Adani Green Energy were declared winners in Torrent Power Limited’s auction to develop 300 MW of grid-connected solar projects in Gujarat. Adani Green and Torrent Power quoted a tariff of ₹2.22 (~$0.03)/kWh and were awarded capacities of 150 MW each.
#5 Rising Sun Energy, a New Delhi-based independent power producer, won 190 MW of solar projects quoting a tariff of ₹2.25 (~$0.031)/kWh in NTPC Limited’s auction for 190 MW of grid-connected solar projects at Nokh Solar Park in Rajasthan.
Subscribe to Mercom’s India Solar Tender Tracker to stay on top of tender activity in real-time.