Electricity tariffs discovered in the latest reverse auctions conducted by the state-run Solar Energy Corporation of India (SECI) for 1,200 MW of wind power went up to Rs 2.76/unit. The lowest price quoted in Tuesday’s bidding was 10% higher than the one found in SECI’s previous wind auction.
However, the latest rates are close to the lowest tariff of Rs 2.77 discovered in NTPC’s wind bidding held in August, underscoring the fact that wind prices had indeed bottomed out in February, 2018 when tariff touched the lowest mark of Rs 2.44/unit.
Sources said that Torrent Power and Adani Green have been allotted 115 MW and 300 MW, respectively, by quoting the lowest price. Riyadh-based Alfanar and Sitac Kabini were awarded 300 MW each for `2.77/unit, while Ecoren Energy would develop 175 MW at the same tariff.
An industry official said that one of the reasons why prices are going up is because the favourable locations for setting up wind plants have already been taken up by existing plants.
The capacity of wind power projects offered in the fifth tranche of competitive bidding was slashed to 1,200 MW in August from the original proposal of 2,500 MW, after SECI cancelled 2,000 MW wind tenders.