September 24 (Solar) – The latest solar tender of India’s Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) has exceeded the targeted capacity by 250 MW, attracting 750 MW of proposals, Mercom Capital reports.
The tender, capped at INR 3.10 (USD 0.043/EUR 0.037) per kWh, was launched in July following the cancellation of an earlier 1-GW auction due to the high level of quoted tariffs. UPNEDA split the capacity in two equal portions and subsequently retendered the first 500-MW lot.
Indian firm Giriraj Renewables bid for 300 MW of the overall capacity by proposing three separate projects of 100 MW each, an unnamed UPNEDA official told Mercom. Other participants in the competition were Adani Group with 100 MW, NTPC (BOM:532555) with 160 MW, Eden with 50 MW and Maheshwari with 40 MW. Sukhbir Agro and Talettutayi Solar proposed 50-MW projects each.
The scrapped 1-GW auction for grid-connected solar power capacity was oversubscribed by 870 MW, Mercom reported previously. Bids ranged between INR 3.48 per kWh and INR 3.55 per kWh.
(INR 10 = USD 0.138/EUR 0.118)