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Bhadla Solar Park Phase 4 Auction Results: New Lows, New Records

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Bhadla Phase 4 Auction Results: New Lows, New Records

India’s solar power tariffs fell to a new low of Rs2.62 per unit during the auction of a 250 megawatt (MW) capacity at Bhadla in Rajasthan.

South Africa’s Phelan Energy Group and Avaada Power bid Rs2.62 per kilowatt-hour (kWh) to win contracts to build capacities of 50MW and 100MW, respectively, at Adani Renewable Energy Park Rajasthan Ltd. SBG Cleantech bid Rs2.63 per kWh to construct a 100MW capacity.

Bidders Name

Tariff

Bidder's Quantity

Phelan Energy Group Limited

2.62

50

Avaada Power Pvt Ltd

2.62

100

SBG CLEANTECH THREE LTD

2.63

250

Mahoba Solar (UP) Private Limited

2.71

250

ReNew Solar Power Private Limited

2.74

250

Natems Power Private Limited

2.75

50

Azure Power Forty Five Private Limited

2.8

100

Mira Zavas Private Limited

2.92

50

Cambronne Solar

2.94

50

Orange Renewable Power Private Limited

3

50

IL&FS Energy Development Company

3.12

50

ACME Solar Holdings Private Limited

3.36

50

Rattan India Solar 4 Private Limited

3.37

50

Mahindra Renewables Private Limited

3.59

100

 

A total of 27 bids aggregating 3,250MW were received for the 250 MW capacity on offer.

Chart

State-run Solar Energy Corp. of India (SECI), which is also running the bid process for another 500MW of solar power capacity at Bhadla, had set the reserve price at Rs3.01 a unit before the reverse auction began on Tuesday afternoon.

SECI is running the bid process for 750MW of solar power capacity at two parks. For the balance 500 MW capacity, the reverse e-auction will be run on 11 May. At Bhadla, Saurya Urja Co. of Rajasthan Ltd is also developing a 500 MW park, with SECI running the auction process for both parks. Rajasthan Renewable Energy Corp. Ltd is a joint venture partner in both.

Chart1

 

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