On June 09,2016, the bidding for SECI’s VGF Based 920 MW Open Tender was carried out. The electricity price was fixed at Rs.4.43/kWh and VGF BAse price was Rs.68 Lakhs per MW. Hero Future Energies emerged as lowest bidder taking 200 MW at Rs.69 Lakhs/MW VGF, next bids were very close to each other. JK Petroenergy at L2 quoted Rs.73,48,990 VGF for 10 MW Project, L3 was PCIL Pune quoted Rs.73,49,000 VGF for 40MW Project, L4 was Solitaire Powertech quoted Rs. 73,49,000 VGF for 30MW Project, Energon was L5 quoted Rs.73,49,990 VGF for 100MW Project, L6 was ACME quoted Rs.73,49,997 for 160 MW Project, L7 was Talettutayi quoted Rs.72,49,999 VGF for 30 MW Project and finally L7 won 350MW Project quoting Rs.73,50,000 VGF. If the VGF Benefit is included in the tariff, in this tender the electricity rates are very well below Rs.5 per kWh. Basically Solar Energy at sub five levels are a reality now.
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