Ayana Power, Azure Power and NTPC emerge as lowest bidders for SECI’s hybrid project

Ayana Power, Azure Power, and state-owned NTPC Limited have emerged as the lowest bidders in Solar Energy Corporation of India’s (SECI) 1,200 megawatts (MW) auction for a solar-wind hybrid project.

The discovered tariff of Rs 2.34 a unit from these companies are lower than what the renewable energy industry was initially anticipating. Most of the bids by ReNew Power, Hero Future Energies, Adani Green, and AMP energy came in at Rs 2.40 per unit or higher.

Renewable energy developers have to take into account the basic customs duty (BCD) for all bids henceforth, which was expected to yield tariffs of 2.40 a unit and above.

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.

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 Kilovolts (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.

To ensure only quality systems are installed, the wind turbine models listed in the Revised List of Models and Manufacturers (RLMM) issued by the Ministry of New and Renewable Energy will have to be used.

Last December, three companies had won 1.2 GW of solar-wind hybrid projects quoting a tariff of Rs2.41/kWh – the lowest-ever for solar-wind hybrid projects.

The tariff was discovered in SECI’s auction for setting up 1.2 GW of interstate transmission-connected wind-solar hybrid power projects under Tranche III of the ISTS program. Earlier, Adani Green Energy had emerged as the lowest bidder in SECI’s auction for 1,200 MW of ISTS-connected solar-wind hybrid power projects under Tranche-II. Adani Green Energy had quoted a tariff of Rs 2.69/kWh to set up 600 MW of solar-wind hybrid projects.

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