November 22 (Solar) – A 1.2-GW tender for wind-solar hybrid projects in India has attracted just 1.05 GW of bids, ending up 150-MW undersubscribed, Mercom Capital reports.
The tender for interstate transmission system (ISTS)-connected wind and solar projects was held by the Solar Energy Corporation of India (SECI) and had a ceiling tariff of INR 2.70 (USD 0.038/EUR 0.033) per kWh. The proposals came from two developers, namely India’s Adani Green and SB Energy, the renewable energy arm of Japan’s SoftBank Corp (TYO:9984). They bid for 600 MW and 250 MW, respectively.
The initial Request for Selection (RfS) for the projects was launched in June, targeting 2.5 GW of capacity. Last month SECI lowered the overall capacity target to 1.2 GW and cut the ceiling tariff from the initial INR 2.93/kWh, while the maximum bid capacity was increased from 500 MW to 600 MW.
Successful projects have to be commissioned 18 months after the signing of a power purchase agreement (PPA).
(INR 10 = USD 0.141/EUR 0.123)