The series of project allocations by Solar Energy Corporation of India continue as the country developers several solar power parks simultaneously.
Solar Energy Corporation of India (SECI) auctioned 65 MW solar PV power capacity in the Charanka solar power park, Gujarat. The projects were auction under the viability gap funding scheme wherein developers are required to submit the minimum capital cost support they will require to set up the projects.
Indian project developers ReNew Power Ventures and Mahindra Renewables secured 40 MW and 25 MW capacity, respectively. ReNew Power Ventures quoted a bid of Rs 7.01 million (US$104,700) per MW while Mahindra Renewables placed a bid of Rs 7.77 million (US$115,892) per MW. The developers shall be free to choose imported or Indian-made modules.
The bids placed by the ReNew Power and Mahindra Renewables are higher than the successful bids placed for projects at the same solar power park earlier this year. SECI had auctioned 200 MW capacity in June with all project developers required to use Indian-made modules. The bids at that time were between US$101,810 and US$116,455 per MW.
Government-owned entity Gujarat Industries Power Limited and Mahindra Renewables secured 40 MW capacity each in that auction while Orange Renewables secured a 40 MW project. All the projects will sign power purchase agreement with the Solar Energy Corporation of India for a period of 25 years at a fixed tariff of Rs 4.43/kWh.