The latest wind-solar hybrid auction led by the Solar Energy Corporation of India (SECI) to develop up to 1,200 MW of renewable power projects in India failed to raise interest. Only two companies took part to the auction. Indian independent power producer Adani won 600 MW at INR 2.69/kWh (US$3.9c/kWh), while Renew Power was awarded 120 MW at INR 2.7/kWh. The projects can be located anywhere in India and will be connected to the interstate power transmission system.
This low response may be due to low ceiling tariffs coupled to a too high minimum capacity utilization factor (CUF). The minimum CUF was set at 30% for this auction which, by default, excludes solar power projects since CUF usually reach 35% for the best wind sites in India, and up to 21% for solar sites.
In the previous hybrid auction led in late 2018, only 840 MW of the 1,200 MW offered were awarded, to SB Energy (Softbank group) and Adani Power. Tariffs averaged INR 2.67/kWh (US$3.8c/kWh).
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