India’s 6.4 GW solar auction concludes with final price of $0.034/kWh


From pv magazine India

The solar auction held by authorities in the Indian state of Andhra Pradesh this week was intended at allocating 6.4 GW of grid-connected solar power and was oversubscribed by 8.5 GW.

The procurement exercise saw five players, including Adani Green, HES Infra, NTPC, Shirdi Sai Electricals and Torrent Power, submitting bids for a combined capacity of 14.9 GW.

The auction results, which were revealed b consultancy JMK Research, show the lowest winning bid of INR 2.47($0.034)/kWh came from Torrent Power, which secured 300 MW capacity. Adani Green secured the biggest chunk of 3 GW across five locations (600 MW each). Shirdi Sai Electricals secured 2.2 GW, NTPC 600 MW, and HES Infra 300 MW.

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JMK research cited the lack of international participation as the reason for the rise in final prices compared to the record-low prices of INR 1.99–2.00 achieved in previous auctions. “It could be partly due to lesser time for bid submission, because of which many players were not able to conduct detailed site assessment,” it said.

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