Indian state-run Solar Energy Corporation of India (SECI) has unveiled the results of the latest nationwide tender to set up 1.2 GW of grid-connected solar photovoltaic (PV) capacity. Four companies were awarded a total capacity of 300 MW each: ReNew Power, Azure Power, Eden Renewable and SBSR Power (Softbank); the latter had offered to develop 600 MW. They submitted bids ranging between INR2.55/kWh (US$3.6c/kWh) and INR2.61c/kWh (US$3.7c/kWh). The awarded capacities will be connected to the Interstate Transmission system (ISTS).
Project developers were allowed to bid for a minimum capacity of 50 MW, and up to a maximum of 300 MW. The maximum tariff payable to each developer was set at INR2.65/kWh (US$3.7c/kWh) for a period of 25 years, compared to INR2.93/kWh (US$4.1c/kWh) in the previous July 2018 tender.
The success of this tender was crucial for SECI to help gauge developers' overall interest in the Indian solar power sector. In the past, SECI had to either downsize or cancel several large solar power tenders due to multiple issues.
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