A 100 MW auction for grid-connected solar built using domestic content has been evenly split between two of India’s largest solar developers.
Adani and Azure Power won 50 MW each of the auction in the state of Andhra Pradesh. The Solar Energy Corporation of India (SECI) issued the tender for the development of the Ananthapuramu solar park under the Domestic Content Requirement (DCR) category of the National Solar Mission.
Adani’s winning bid to develop half of that capacity involved Viability Gap Funding (VGF) in the region of $187,094, while Azure Power’s winning bid quoted VGF at $191,513, according to sources at the SECI. The tariffs for both tranches of projects were won at a price of INR 4.43/kWh ($0.065/kWh).
The entire 100 MW of new solar capacity is expected to be brought online towards the end of fiscal year 2017, with both Adani and Azure developing the projects on a build-own-operate basis for SECI, which has signed a 25-year fixed PPA for this new solar capacity.
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