Eight bidders have submitted bids aggregating 795 MW in response to Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA)’s 550 MW grid-connected solar photovoltaic (PV) tender. The capacity, which had been tendered by UPNEDA in October 2018, has been oversubscribed by 245 MW.

According to Mercom’s source at UPNEDA, “A total of eight firms have submitted bids totaling 795 MW. National Thermal Power Corporation (NTPC), Adani, Jakson, Avaada, Tata Power Renewables, Sukhbir Agro, Vijay Printing Press and EDF (Bastille Solar) were the bidders.”

“Adani has bid for the largest capacity of 250 MW (5*50 MW), EDF has bid for 140 MW (2*70 MW), Tata Power Solar has bid for 100 MW (2*50 MW), Avaada Power has bid for 100 MW, NTPC for 85 MW, Sukhbir Agro and Jakson each bid for 50 MW, and Vijay Printing Press bid for 20 MW,” said the UPNEDA official.

Uttar Pradesh’s 550 MW Solar Tender Oversubscribed by 245 MW

The official further stated that in about a week, the financial bidding will be conducted as the UPNEDA wants to give a green signal to developers by December 12, 2018. There is a huge political will to push solar power in Uttar Pradesh as of now, according to the official.

The UPNEDA official also said that the 200 MW solar park project is the next one on the cards with pre-bid meeting scheduled for November 28, 2018.

UPNEDA has fixed ₹3.10 (~$0.0424)/kWh as the upper tariff ceiling for this tender and this has helped evince the desired response from developers at a time when even the Solar Energy Corporation of India (SECI) is finding it tough to find participants for its tenders even after multiple postponements and amendments to the draft request for selection (RfS).

Mercom previously reported that solar tariffs quoted by project developers remained firmly above the ₹3 (~$0.040)/kWh mark in Uttar Pradesh. The Lowest (L1) tariff of ₹3.17 (~$0.043)/kWh was quoted in the 500 MW solar auction held by UPNEDA.

Image credit: UPENVIS

Saumy Prateek Saumy is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism & Mass Communication from the Manipal Institute of Communication at Manipal University. More articles from Saumy Prateek.