Green Companies continue to bid aggressively for solar projects

Green Cos continue to bid aggressively for solar projects

BENGALURU: Renewable energy firms are continuing with aggressive bids for solar projects, with the winners in the latest auction including Finland’s Fortum and US-based Acme quoting a tariff of Rs 2.48 per unit.

Palimarwar Solar House also quoted the same tariff to win 40 MW, while Acme Solar won 250 MW of the 750 MW auctioned by Solar Energy Corporation of India (SECI). Fortum won 250 MW, while UPC won 100 MW. Sumant Sinha-led ReNew Power won 110 MW at Rs 2.49 per unit.

In this non-solar park auction, projects have to be built in Rajasthan within 18 months. This tariff is lower than the auction conducted by SECI earlier this week where the lowest winning tariff was Rs 2.55 per unit. “This is a Rajasthan specific tender, so everyone knows Rajasthan is going to buy the power. There is a PPA certainty,” said Vinay Rustagi, managing director of solar consultancy Bridge to India.

“In the previous auction, since it was an ISTS one, SECI has to finalise which states will buy the power and then you can end up with the lowly rated states,” he said.

Since the state is identified beforehand here, there is more comfort on availability of land and transmission, and this has driven down the tariff, Rustagi added.

The tariff is lower than the auction conducted by SECI earlier this week where the lowest winning tariff was Rs 2.55 per unit.

[“source=economictimes.indiatimes”]