SoftBank, Actis, and CDC Group Companies Win SECI’s 750 MW Solar Auction

The Solar Energy Corporation of India (SECI) has auctioned 750 MW of grid-connected solar photovoltaic (PV) capacity to be developed at the Kadapa Solar Park in the state of Andhra Pradesh.

The capacity was tendered by SECI in January 2018 under the NSM Phase-II Batch-IV Tranche-XV.

In the SECI auction, ₹2.70 (~$0.039)/kWh emerged as the lowest (L1) tariff quoted. Both SB Energy and Sprng Soura Kiran Vidyut quoted the L1 tariff in the auction.

SoftBank, Actis and CDC Group Companies Win SECI’s 750 MW Solar Auction

When contacted, a SECI official confirmed the conclusion of financial bidding and said, “SB Energy Seven Private Limited quoted the L1 tariff to develop 250 MW. Sprng Soura Kiran Vidyut (Actis) also quoted a tariff of ₹2.70 (~$0.039)/kWh to develop 250 MW, Ayana Renewables quoted a tariff of ₹2.71 (~$0.0394)/kWh to develop 250 MW.”

ACME Solar and Fortum were the other bidders participating in the financial bidding. ACME quoted a tariff of ₹2.71 (~$0.0394)/kWh and Fortum quoted a tariff of ₹2.79 (~$0.040)/kWh to develop 250 MW each but could not win the auction.

SoftBank, Actis and CDC Group Companies Win SECI’s 750 MW Solar Auction

The L1 tariff quoted in this auction is ₹0.26 (~$0.003)/kWh, more than the recently quoted low tariff of ₹2.44 (~$0.035)/kWh in SECI’s recently concluded 2 GW solar PV auction.

Source: Mercom

About Ritesh Pothan

Ritesh Pothan, is an accomplished speaker and visionary in the Solar Energy space in India. Ritesh is from an Engineering Background with a Master’s Degree in Technology and had spent more than a decade as the Infrastructure Head for a public limited company with the last 9 years dedicated to Solar and Renewable Energy. He also runs the 2 largest India focused renewable energy groups on LinkedIn - Solar - India and Renewables - India
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