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<p>Softbank Energy (SB Energy) and GRT Jewellers India (GRT) have been allocated capacities totaling 480 MW in the auction held by the Solar Energy Corporation of India (<a href="http://seci.co.in/" target="_blank" rel="noopener noreferrer">SECI</a>) against its tender for 1,200 MW of solar projects.</p>
<p><a href="https://mercomindia.com/seci-1-2-gw-solar-tender-undersubscribed/" target="_blank" rel="noopener noreferrer">Earlier this month</a>, Mercom had reported that the tender was left undersubscribed by 50%, receiving bids for only 600 MW of solar capacity. The tender was issued on <a href="https://mercomindia.com/seci-tenders-solar-ists-network/" target="_blank" rel="noopener noreferrer">June 28, 2019</a>, with a bid submission deadline of July 31, 2019. The bid submission deadline was extended on August 1, 2019, to August 9, 2019. The upper tariff ceiling was set at ₹2.65 (~$0.038)/kWh for this tender. The projects were slated to be developed anywhere in India.</p>
<p>As the tender was undersubscribed, only 80% of the bid capacity could be awarded in line with the tender condition. Therefore, only a capacity of 480 MW has been awarded out of the 1.2 GW capacity tendered.</p>
<p>The bid results show that out of the 480 MW, 150 MW has been allocated to GRT Jewellers at a tariff of ₹2.53 ($0.0353)/kWh and 330 MW has been allocated at a tariff of ₹2.65 ($0.037)/kWh to SB Energy.</p>
<p><a href="https://mercomindia.com/wp-content/uploads/2019/08/SECI-1.2-GW-ISTS-V-Solar-Projects.png"><img decoding="async" loading="lazy" class="aligncenter size-full wp-image-15221" src="https://mercomindia.com/wp-content/uploads/2019/08/SECI-1.2-GW-ISTS-V-Solar-Projects.png" alt="SECI - 1.2 GW ISTS-V Solar Projects" width="487" height="186" srcset="https://cms.mercomindia.com/wp-content/uploads/2019/08/SECI-1.2-GW-ISTS-V-Solar-Projects.png 487w, https://cms.mercomindia.com/wp-content/uploads/2019/08/SECI-1.2-GW-ISTS-V-Solar-Projects-300x115.png 300w" sizes="(max-width: 487px) 100vw, 487px" /></a></p>
<p>As per the results, there is a ₹0.12 (~$0.0016) difference between the L1 and L2 bids which might be a challenge. Going by previous tender results, a wide difference between bids such as this is rarely accepted and the L2 bid is often asked to match the L1 bid.</p>
<p><a href="https://mercomindia.com/wp-content/uploads/2019/08/Lowest-Solar-Bids-in-Reverse-Auctions-in-India-Since-2018.png"><img decoding="async" loading="lazy" class="aligncenter size-full wp-image-15222" src="https://mercomindia.com/wp-content/uploads/2019/08/Lowest-Solar-Bids-in-Reverse-Auctions-in-India-Since-2018.png" alt="Lowest Solar Bids in Reverse Auctions in India Since 2018" width="919" height="489" srcset="https://cms.mercomindia.com/wp-content/uploads/2019/08/Lowest-Solar-Bids-in-Reverse-Auctions-in-India-Since-2018.png 919w, https://cms.mercomindia.com/wp-content/uploads/2019/08/Lowest-Solar-Bids-in-Reverse-Auctions-in-India-Since-2018-300x160.png 300w, https://cms.mercomindia.com/wp-content/uploads/2019/08/Lowest-Solar-Bids-in-Reverse-Auctions-in-India-Since-2018-768x409.png 768w, https://cms.mercomindia.com/wp-content/uploads/2019/08/Lowest-Solar-Bids-in-Reverse-Auctions-in-India-Since-2018-650x346.png 650w, https://cms.mercomindia.com/wp-content/uploads/2019/08/Lowest-Solar-Bids-in-Reverse-Auctions-in-India-Since-2018-624x332.png 624w, https://cms.mercomindia.com/wp-content/uploads/2019/08/Lowest-Solar-Bids-in-Reverse-Auctions-in-India-Since-2018-600x319.png 600w" sizes="(max-width: 919px) 100vw, 919px" /></a></p>
<p>The <a href="https://mercomindia.com/seci-solar-auction-1-2-gw/" target="_blank" rel="noopener noreferrer">lowest tariff discovered in this auction</a> is ₹0.01 (~$0.0001)/kWh lesser than that discovered in SECI’s previous solar auction for 1.2 GW held in June 2019.</p>
<p>According to <a href="https://mercomindia.com/product/india-solar-project-tracker/" target="_blank" rel="noopener noreferrer">Mercom’s India Solar Project Tracker</a>, SECI has so far auctioned ~5.5 GW of solar projects under the ISTS program (I to V).</p>
<p>Of late, SECI has not been able to encourage developers to actively participate in its utility-scale tenders.</p>
<p><a href="https://mercomindia.com/seci-bid-submission-deadline-solar-tenders/" target="_blank" rel="noopener noreferrer">Recently</a>, Mercom reported on SECI extending the bid submission deadline for three solar tenders with a total capacity of over 6 GW.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/shaurya-bajaj/" class="vcard author" rel="author"><span class="fn">shaurya</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><span style="font-family: Calibri"><span style="color: #000000"><span>Shaurya is a staff reporter at MercomIndia.com with experience working in the Indian solar energy industry for the past four years in various roles. Prior to joining Mercom, Shaurya worked with a renewable energy developer and a consulting company. Shaurya holds a Bachelors Degree in Business Management from Lancaster University in the United Kingdom. </span></span></span></p>
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SECI Auctions 480 MW Out of its 1.2 GW Solar Tender, Sees Lowest Tariff of ₹2.53/kWh

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