The Solar Energy Corporation of India (SECI) has awarded 960 MW of inter-state transmission system (ISTS-VI) connected solar projects in a recently concluded auction.

The auction winners included ReNew Power (300 MW) at ₹2.71 (~$0.038)/kWh, Avaada Energy (300 MW) at ₹2.71 (~$0.038)/kWh, Masaya Solar Energy (UPC Renewables) (300 MW) at ₹2.71 (~$0.038)/kWh, and Tata Power (60 MW) at ₹2.72 (~$0.038)/kWh.

SECI’s tender for setting up 1.2 GW of solar photovoltaic projects under ISTS-VI had received bids of 1,200 MW as reported on October 21, 2019. But only 80% of the quoted capacity (960 MW) was awarded in line with the tender condition.

The tender was issued on June 28, 2019, with a bid submission deadline of August 9, 2019. The bid submission deadline was later extended from August 9, 2019, to September 16, 2019.

“Initially, the tender was only for bidders in Madhya Pradesh, but now, it’s on a pan-India basis,” an official told Mercom.

Initially, the tariff bids for this tender had been capped at ₹2.65 (~$0.038)/kWh, which was later amended to ₹2.68 (~$0.037). However, in the fourth set of amendments for the tender, SECI again increased the tariff cap to ₹2.78 (~$0.038)/kWh.

According to Mercom India Research, SECI has auctioned 6.44 GW of solar projects under ISTS- I to VI.

In September 2019, Mercom had reported that due to the aggressive tariff caps, developer participation in auctions have been poor.

This tender has seen an increase in bid price by 7% as compared to the previous ISTS-V tender, which had received the lowest tariff of ₹2.53 ($0.0353)/kWh.