Rajasthan shines as India's most attractive solar project destination in NTPC auction
Advertisement
Advertisement
There were 130 MW put up for auction, out of which 50 MW was won by Shapoorji Pallonji Infrastructure Capital and 60 MW by Mahindra Susten, while the remaining 20 MW was won by Prayatna Developers of the Adani Group. Both these companies offered to sell electricity produced from their projects at same price of Rs 4.35 per kwH, and Prayatna Developers’ offer was at Rs 4.36 per kwH.
Also read: Here’s why India can never afford solar power at Rs 2.2 per unit, but Dubai can
These reverse auctions see the developer offering to sell electricity at the lowest price winning the auction. The last NTPC auction in Rajasthan saw Fortum Finnsurya winning a 70 MW project by bidding Rs 4.34 per kwH. However, in that auction, the land for the project was ensured at the Bhadla Solar Park in Jodhpur district, with the highest solar radiation in India.
This time around, the winners are not being given any land. Instead, developers will find and develop the land themselves, probably the reason behind marginally higher tariffs.
Advertisement
Also read: World Bank will lend India $1 billion for Modi's solar goals
This year has not seen too many developers taking interest in these auctions, with the Gujarat auction of 160 MW of capacity, which was held in late-June, drawing only three bidders. However, in the latest Rajasthan auction, the developers seem to have shed those apprehensions with 21 developers, including many of the top names in the business, taking part in it.
Also read: Your renewable energy projects could get easily financed and that too at low interest rates
The reason could be cited to Rajasthan's inherent solar advantage, because of the high radiation that the state receives. The developers’ interest in this recent auction also shows that along with tariff, it also crucially depends on the project locations.
Image source
Advertisement
Advertisement
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- Foreign tourist arrivals in India will cross pre-pandemic level in 2024
- Upcoming smartphones launching in India in May 2024
- Markets rebound in early trade amid global rally, buying in ICICI Bank and Reliance
- Women in Leadership
- Rupee declines 5 paise to 83.43 against US dollar in early trade