India

India

Tariffs level in latest 2GW Indian auction

INDIA: Prices remained at INR 2.51/kWh ($0.0374/kWh) in the Solar Energy Corporation of India's (SECI's) latest 2GW wind auction.

The auction results were announced in the same week that the MNRE reportedly announced a new renewable energy target (pic credit: Inox Wind)
The auction results were announced in the same week that the MNRE reportedly announced a new renewable energy target (pic credit: Inox Wind)

Six developers were awarded a total of 1,435MW with winning bids of INR 2.51/kWh — the same lowest rate in the last 2GW auction in April.

The 565MW balance was picked up by two more developers with bids of INR 2.52/kWh.

The six winners of the INR 2.51/kWh tariffs were: Srijan Energy Systems (250MW), Sprng Energy (300MW), BLP Energy (285MW), Betam Wind Energy (200MW), Inox Wind (100MW) and Adani Green Energy (300MW).

Meanwhile, Mytrah Energy won 300MW at INR 2.52/kWh, and Renew Wind Energy won 265MW at the same tariff, having bid for 300MW.

A total of 2,933.2MW was put forward for the auction, with initial bids starting between INR 2.57/kWh and INR 2.79/kWh.

Three unsuccessful bids were made for 598.2MW, with tariffs ranging from INR 2.52/kWh to INR 2.67/kWh.

New target

The announcement of results in the country’s latest 2GW wind power auction come in the same week that the ministry of new and renewable energy (MNRE) set ambitious new targets.

India will have 227GW of installed renewable energy capacity by March 2022, energy minister RK Singh announced, according to report.

The MNRE had previously set a target of 175GW by 2020.

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