India has awarded 1.5 GW of wind and solar renewable projects in two auctions held by Rewa Ultra Mega Solar Limited (RUMSL) in the Madhya Pradesh state, and Gujarat Urja Vikas Nigam Limited (GUVNL) in the Gujarat state.
The 750 MW RUMSL wind-solar hybrid tender awarded 300 MW to ReNew Solar Power, 200 MW to Tata Power Renewable Energy, 160 MW to Sprng Ojas and 90 MW to O2 Power. Tariffs ranged between INR3.03 and INR3.04/kWh (about US$3c/kWh). The projects will deliver energy to Madhya Pradesh Power Transmission Company. The tender, floated in April 2022, was oversubscribed by 530 MW.
The GUVNL grid-connected solar tender with greenshoe option also awarded 750 MW. The auction granted 300 MW to Tata Power Renewable Energy, 200 MW to Solairedirect Energy (Engie), 130 MW to Utkrrisht Solar Energy (UPC Renewables) and 120 MW to Solarcraft Power India (Blupine Energy). Tariffs ranged between INR2.49 and INR2.66/kWh (about US$3c/kWh). The tender was floated in July 2022. The minimum project capacity stands at 25 MW.
In 2021, solar and wind accounted for nearly 20% of installed capacity in India, with respectively 49 GW and 40 GW. The country aims to develop 175 GW of renewable capacity by the end of 2022, including 100 GW of solar.
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