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India's 500 MW UP Tender Results Brief; INR 3.17 per unit Sets New Lows

Below are the results of the retendered 500MW capacity by UPNEDA. The tender saw owest bids of of ₹3.17 prt unit which was higher than the limit of INR 3/ unit set by UPNEDA. Maheshwari Energy and NTPC Ltd quoted the lowest winning bids.

 

UPNEDA had retendered 500 MW of grid-connected solar PV capacity to be developed across the state in July 2018, after the annuling the 1 GW auction in which tariffs quoted were upwards of ₹3.40.

 

The tariffs quoted were significantly higher as compare to the other state tenders despite offset of safegaurd duty clause in the tender. Developers generally place a higher risk premium for projects in Uttar Pradesh which results in higher quoted tariffs.

 

Sr. No.

Bidder’s name

Quoted Value (INR/kWh)

Bidder’s Quantity

Difference in % (Bid-Value Vs Start- Price)

1.

Maheswari Mining & Energy Pvt. Ltd.

3.17

20.00

0%

2.

NTPC Ltd (RE)

3.17

140.00

0%

3.

Maheswari Mining & Energy Pvt. Ltd.

3.19

20.00

-0.63%

4.

Mahoba Solar (UP) Pvt. Ltd.

3.19

50.00

-0.63%

5.

Sukhbir Agro Energy Ltd.

3.20

50.00

-0.95%

6.

Talettutayi Solar Projects Five Pvt. Ltd.

3.21

50.00

-1.26%

7.

NTPC Ltd. (RE)

3.21

20.00

-1.26%

8.

Eden Renewable Jasmin Pvt. Ltd.

3.21

50.00

-1.26%

9.

Mahoba Solar (UP) Pvt. Ltd.

3.22

50.00

-1.58%

10.

Giriraj Renewables Pvt. Ltd.

3.23

100.00

-1.89%

11.

Giriraj Renewables Pvt. Ltd.

3.23

100.00

-1.89%

12.

Giriraj Renewables Pvt. Ltd.

3.24

100.00

-2.21%

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