The Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA)’s 500 MW grid-connected solar photovoltaic (PV) tender has been oversubscribed by 250 MW.

A UPNEDA official told Mercom, “Technical bids aggregating 750 MW have been received against the tendered capacity of 500 MW. For the first time, NTPC is participating in an auction.”

UPNEDA had retendered 500 MW of grid-connected solar PV capacity to be developed across the state in July 2018.

“Giriraj Renewables has bid for three projects of 100 MW each (300 MW total), Adani has bid for two projects of 50 MW (100 MW total), NTPC submitted bids for a 140 MW project and also for a 20 MW project (160 MW total), Eden bid for a 50 MW project, Maheshwari bid for two projects of 20 MW (40 MW total), Sukhbir Agro bid for a 50 MW project and Talettutayi Solar bid for a 50 MW project,” informed the UPNEDA official.

The UPNEDA official was upbeat about the auction even though this was a retender. Clarifications have been issued for safeguard duty which has helped in taking care of uncertainties, Mercom was informed.

The UPNEDA official further commented that the tariff quoted in the auction will be reduced by ₹0.15 (~$0.002) if the developers fail to produce a receipt of payment of safeguard duty at the time of project commissioning.”

Mercom reported earlier that UPNEDA cancelled the recent auction for the development of 1 GW of grid-connected solar PV projects across the state as developers had quoted high tariffs. In the auction, ₹3.48 (~$0.050)/kWh tariff had emerged as the lowest (L1) quoted by the developers.

For this 500 MW tender, UPNEDA has fixed an upper tariff ceiling of ₹3.10 (~$0.045)/kWh.

Image credit: Goldi Green