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India Auctions 1.2 Gigawatts Of Wind Capacity At 3.97¢/kWh
India wrapped up the sixth edition of its government-backed national wind energy tenders last month. The auction saw the second-highest tariff bid seen in such auctions. After a nearly 100% over-subscription to the sixth national-level wind energy tender issued by the Solar Energy Corporation of India (SECI), project developers picked up 1.2 gigawatts of capacity at bids of Rs 2.82/kWh (3.97¢/kWh). The capacity was distributed among six project developers. These developers include SoftBank-based SB Energy which participated in wind energy auctions for the first time ever. SB Energy had placed a bid for 600 megawatts but managed to secure only 324 megawatts due to marginally higher tariff bid and limited capacity on offer. This is the third-largest capacity win ever in Indian wind energy auctions.
An Indian independent power producer Ostro Energy placed a bid for and secured 300 megawatts. The company was one of the developers that secured capacity in SECI’s first-ever wind energy auction in February 2017. Ostro Energy did not participate in any other auctions held in the country until this auction. The company was acquired by ReNew Power, which itself is one of the largest renewable energy independent power producers in the country. Along with Ostro Energy, ReNew Power now has 1,775 megawatts in its kitty from all auctions in India.
Adani Green Energy secured 250 megawatts of capacity in the auction. With this win, the company increased the total capacity secured through auctions to 1,275 megawatts, which accounts for 12% of the wind energy capacity auctioned in India till date.
Another developer, Continuum Wind Energy, secured its third win and grabbed 150 megawatts of capacity. The company now has 450 megawatts of capacity from various auctions. Other successful companies in this tender were Powerica (51 megawatts) which participated in a national-level tender for the first time and Ecoren India (125 megawatts) which successfully secured its second successive win in national-level tenders.
Enel Green Power and Sitac RE had bid for 300 megawatts of capacity each but failed to make the cut in financial bidding. Engie also unsuccessfully placed a bid for 250 megawatts.
The tariff bid seen in this tender is highest since the state-level auction of Maharashtra in March 2018. The bid is also the second highest ever seen in any wind energy auction in India.