July 11 (Solar) – The recent 1-GW solar tender in the Indian state of Uttar Pradesh got bids circling around INR 3.5 (USD 0.05/EUR 0.043) per kWh, which is significantly above the rates achieved in other parts of the country.
The lowest bid was of INR 3.48/kWh, quoted by Adani’s Mahoba Solar and Maheshwari Mining & Energy Pvt Ltd (MMEPL) for 250 MW and 20 MW, respectively, according to a report by Mercom India Research. It cited an unnamed official at one of the competing companies as saying that the lower capacity utilization factor (CUF) in Uttar Pradesh, the poor rating of the distribution company and the fact that projects will have just 13 months to get built have led to the high tariffs.
Mercom’s list shows the other winners in the tender include Acme Solar, Canadian Solar, Azure Power, Hero Solar Energy and other firms. The highest successful bid was of INR 3.55/kWh.
The tender by the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) was oversubscribed by 870 MW.
(INR 100 = USD 1.45/EUR 1.24)