The Andhra Pradesh solar auction for 6.4 GW of grid-connected solar capacity was oversubscribed by 8.5 GW. The auction saw five players, including Adani Green, HES Infra, NTPC, Shirdi Sai Electricals and Torrent Power, submitting bids for a combined capacity of 14.9 GW.
Auction results shared by consultancy JMK Research show the lowest winning bid of INR 2.47/kWh from Torrent Power, which secured 300 MW capacity. Adani Green secured the biggest chunk of 3 GW across five locations (600 MW each). Shirdi Sai Electricals secured 2.2 GW, NTPC 600 MW, and HES Infra 300 MW.
“Out of these five players, HES Infra, a civil contractor firm, and Shirdi Sai Electricals, a transformer manufacturer, are the new entrants that have participated for the first time,” it said.
JMK cited lack of international participation as one reason for the higher tariffs discovered in this auction than record-low prices of INR 1.99–2.00 achieved earlier. “It could be partly due to lesser time for bid submission, because of which many players were not able to conduct detailed site assessment,” it said.
Higher risks associated with the earlier power purchase agreement (PPA) renegotiation issues with the Andhra Pradesh government and low solar irradiation level compared to Rajasthan also played a part.
The tender was floated by the Andhra Pradesh Green Energy Corporation Ltd (APGECL) in December last year. The solar capacity shall come up across ten locations in Anantapur, Kadapa, Kurnool, and Prakasam districts.
The APGECL shall enter into a PPA with the successful bidders for 30 years. Power procured from the projects has been provisioned to meet the demand of agricultural loads in the State.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
2 comments
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.