NTPC called a 2GW+ tender in March 2018 but it was subsequently downscaled to 1.2GW following growing concerns related to transmission constraints.
In the revised tender’s results, Actis subsidiary Sprng Energy was one of the lowest bidders securing 200MW of capacity at INR 2.77/kWh ($0.0394/kWh).
Local firm Mytrah Energy was awarded 300MW of capacity at INR 2.79/kWh ($0.0397/kWh), and Continuum Wind won 50MW for INR 2.80/kWh ($0.039/kWh).
Major Indian wind producers ReNew Power and Hero Future Energy bid INR 2.81/kWh ($0.04/kWh) and INR 2.82/kWh ($ 0.0401/kWh) respectively for 300MW of capacity each.
Finally, EDF Renewables won 50MW at INR.2.83/kWh ($ 0.0403/kWh).
The main reasons for the rise in the wind power prices are the constraint in transmission infrastructure and the exhaustion of available capacity at the best wind power sites.
As developers move from the prime sites to sub-prime wind sites, the bid process are expected to go up to compensate for the lower generating output.
India’s lowest successful wind bid was witnessed in the Gujarat state auction in December 2017 when prices fell to an all-time low of INR 2.43/kWh ($0.0346/kWh).