Azure Power, NTPC, Ayana and NLC Emerge As Lowest Bidders For SECI’s 1,200 MW Wind-Solar Hybrid Power Projects

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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

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NTPC Limited, NLC India, Ayana Renewable Power, and Azure Power emerged as the lowest bidders in the Solar Energy Corporation of India’s (SECI) auction for 1,200 MW interstate transmission system connected wind-solar hybrid power projects on a build, own, and operate basis across India.

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.

The discovered tariff of Rs 2.34 per kWh is 3 percent lower than the lowest bid of Rs 2.41 per kWh, discovered in the wind-solar hybrid the auction held in December last year. Most of the bids by ReNew Power, Hero Future Energies, Adani Green, and AMP energy came in at Rs 2.40 or higher.

SECI had floated the tender in April this year. According to the tender document, the hybrid power projects had to be designed for interconnection with the transmission network of the central transmission utility at the voltage level of 220 kV or above. The hybrid power project should comprise two components – one solar and one wind power project. The rated installed project capacity of either of the two components should be at least 33 percent of the contracted capacity.

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.

An Economic Times report said that 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 the publication.

Earlier, Adani Green Energy had emerged as the lowest bidder in SECI’s 1,200 MW auction. Adani Green Energy had quoted a tariff of Rs 2.69 to set up 600 MW of solar-wind hybrid projects.

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