All of the 2GW capacity on offer was captured by six bidders.
Developers ReNew Power with 400MW, Green Infra with 300MW, manufacturer Inox Wind with 200MW, and energy firm Torrent power with 499MW were all successful with a tariff of INR 2.44/kWh.
Adani Green and Alfanar won 250MW and 300MW of capacity, respectively at INR 2.45/kWh ($0.03816/kWh).
Betam Power, which could only get an allocation of 50MW, as the 2GW capacity was exhausted, also offered INR 2.45/kWh.
Interestingly, at least one more bidder with the same offer could not get any allocation as the capacity target was already achieved.
In December, Gujarat state auction prices fell to an all-time low of INR 2.43/kWh (€0.03785/kWh).
This response to the tenders suggests the industry can expect the next auctions to stay at the same level or dip even further, despite expectations of prices being revised upwards.
With these new low tariffs, the new auctions have marked a shift in focus from margins, to volumes in the Indian market.
The auctions also bode well for Indian turbine manufacturers such as Suzlon and Inox Wind, which have directly or indirectly won several orders of the 5GW capacity auctioned so far.
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