The auction completed on 5 April 2018 had eight bidders cornering the whole 2GW capacity at tariffs ranging from INR 2.51/kWh ($0.0393/kWh) to INR 2.52/kWh ($0.0394/kWh).
These tariffs are just marginally over the record low of INR 2.43/kWh ($0.037/kWh) bid in the Gujarat state auction in December and the INR 2.44/kWh ($0.037/kWh) discovered in the first 2GW auction in February.
Despite the marginal increase from the last SECI auctions, the prices are still well below the average rate of thermal power production.
|Developer (base country)||Capacity won||Bid Price (INR/kWh)|
|Continuum Energy (Singapore)||250MW||2.51|
|Inox Wind (India)||100MW||2.51|
|Adani Green Energy (India)||300MW||2.51|
|Mytrah Energy (India)||300MW||2.52|
|ReNew Power (India)||280MW||2.52|
Interestingly, this tender saw big entry of many foreign players that outbid entrenched Indian players.
The continued trend of low tariffs, especially with foreign players outbidding Indian players, suggests that the industry is able to sustain and grow with these tariff levels.