Ayana Power, Azure Power And NTPC Emerge As Lowest Bidders For SECI’s Hybrid Project – EQ Mag Pro
The discovered tariff of Rs 2.34 was lower than what the renewable energy industry was initially anticipating. Most of the bids by ReNew Power, Hero Future Energies, Adani Green, and AMP energy came in at Rs 2.40 or higher.
New Delhi: Ayana Power, Azure Power, and state-owned NTPC Limited emerged as the lowest bidders in Solar Energy Corporation of India’s (SECI) 1,200 MW bid solar-wind hybrid project held today.
The discovered tariff of Rs 2.34 was lower than what the renewable energy industry was initially anticipating. Most of the bids by ReNew Power, Hero Future Energies, Adani Green, and AMP energy came in at Rs 2.40 or higher.
NTPC and Ayana won 450 MW each, while Azure won 150 MW at Rs 2.34 each. Azure won another 300 MW at Rs 2.35, according to the results accessed by ET.
Renewable energy developers have to take into account the basic customs duty (BCD) for all bids henceforth, which was expected to yield tariffs of 2.40 and above, according to developers ET spoke to.
Other competing bids by ReNew Power, Hero Future Energies, Adani Green, and AMP Energy, Avaada, Torrent, and Tata Power fell short of the winning bids. These companies were anticipating higher borrowing costs and a hike in import prices of solar equipment due to the basic customs duty (BCD).
“To us, these tariffs seem unsustainable. We’re really interested to see how the winning bids are commissioned,” an executive from a competing developer told ET.
SECI had tendered the hybrid project’s bid in April earlier this year. Prior to this, the previous hybrid project bid came in at ?2.41 for Adani, AMP, and Axis Energy.
Source: ET
