Tamil Nadu signs MoUs for 1.5 GW solar auction

The list of eligible and successful bidders was released by the state authorities . NLC India Ltd., Rassi Green Earth Energy Private Ltd., Narbheram Vishram and NVR Energy have already signed MoUs. The government said it plans to sign MoUs with the remaining 12 companies before the end of September.

A total of 25 developers placed bids, with Raasi Green Earth Energy and NLC India offering the lowest price of INR 3.47 ($0.05)/kWh. The maximum price was quoted by Balvimodhan Power Process (P) Ltd., at INR 4.00 ($0.06)/kWh.

Raasi Green Earth Energy won the rights to 100 MW of capacity, while NLC India won the most capacity, with 709 MW. It initially offered INR 3.97 ($0.06)/kWh for all 1.5 GW on offer.

Tamil Nadu’s cumulative installed PV capacity currently stands at roughly 1.75 GW, with an additional 700 MW set to come online by the end of this year. The state government has set a solar installation target of 5 GW by 2021.