SECI's 1.2GW solar tender oversubscribed

Five firms bid for a total of 2.1GW.

A tender launched by the Solar Energy Corporation of India (SECI) to set up 1.2GW of interstate transmission (ISTS) connected solar photovoltaic (PV) projects across the country was oversubscribed by 900MW, a report by Mercom India revealed.

According to a SECI official, bids totalling 2.1GW were submitted, against the tendered capacity of 1.2GW. Azure Power, SB Energy, Ayana Renewables, ReNew Power and UPC Solar reportedly bid for 300MW each, whilst Mahindra bid for 250MW and Avaada bid to set up 350MW of grid-connected solar PV projects, a market source was quoted.

The tender was launched in February 2019 under tranche-IV with a tariff ceiling capped at approximately $0.038 (INR2.65)/kWh.

Also read: SECI's 1,200MW wind project tender oversubscribed

The country is at risk of falling short of its 175GW renewable energy target due to its sluggish solar installations. Data from the Institute for Energy Economics and Financial Analysis (IEEFA) showed that whilst India has installed a total of 28GW of solar capacity, representing a fourfold increase in less than three years, it has only achieved 10% of its 40GW rooftop solar target.

SECI had also issued two other tenders for the development of solar PV power projects totalling 1.4GW in Madhya Pradesh and Andhra Pradesh. In March, it also said it would soon launch another tender for 1GW of solar PV capacity that will be developed in the states of Sikkim, Arunachal Pradesh, Meghalaya, Mizoram, Manipur, Tripura, Nagaland, and Assam with a ceiling tariff fixed at $0.042/kWh.