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Own power
Published on September 14, 2019 |
by Saurabh
September 14, 2019 by Saurabh
SB Energy, backed by Softbank, has been able to recover much of the auction capacity in an under-subscribed solar energy tender in India.
Image: Zach Shahan | CleanTechnica.com
The fifth edition of solar energy auctions at the national level pipe by the Solar Energy Corporation of India, allowed two winners to obtain a capacity of only 480 megawatts on a capacity of 1.2 gigawatts initially offered. The technical phase of the auction was significantly underutilized, with the main developers remaining out of the tender.
GRT Jewelers and SB Energy had submitted bids for a total capacity of only 600 megawatts without any other developer participating in the technical phase. Because of the under-subscription, SECI offered only 80% of the capacity for which it had received offers during the technical phase. The maximum tariff offer allowed in the auction has been set at ₹2.65 / kWh (3.73US ¢ / kWh).
The fact that the development of renewable energy projects is not the main business of GRT Jewelers has been shown in its aggressive pricing offer. The company cited an offer of 4.5% of the maximum allowable bid. The company captured 130 megawatts of capacity to ₹2.53 / kWh (3.57US ¢ / kWh). SB Energy, on the other hand, is one of India's leading renewable energy developers and one of the largest pipelines. The company, a joint venture between Softbank, Bharti Enterprises and Foxconn Technologies, has reached the threshold of maximum supply and has nearly doubled the capacity acquired by GRT Jewelers. SB Energy had submitted an offer to develop a capacity of 450 megawatts but had managed to capture only 330 megawatts.
This is a major victory for SB Energy, which lost big plans when government agencies found that its tariff offers were very high. Earlier this year, SB Energy lost 250 megawatts of capacity when the government of Gujarat refused to award projects after the completion of the round of bidding.
Nearly a year ago, SB Energy had launched a purchase offer aimed at developing a capacity of 1.8 gigawatts in the largest call for tenders related to solar energy. in India, offering developers a capacity of 3 gigawatts. By the end of the technical turn, SB Energy had managed to capture 1.1 gigawatts of capacity but had never been allocated. SECI canceled capacity allocation for 2.4 gigawatts out of the 3 gigawatts offered. The Ministry of New and Renewable Energies invoked this cancellation to explain that some promoters had formed a cartel to raise tariff offers.
SB Energy had proposed a tariff of 2.70 Rs / kWh (3.81 USD / kWh) to develop a capacity of 1.8 gigawatts last year. This year, the company proposed a tariff of 2.65 Rs / kWh (maximum allowed) to develop only 450 megawatts.
About the author
Saurabh A fervent supporter of the latest developments in the Indian renewable energy sector.
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