UPDATED: The Indian state of Tamil Nadu’s latest 1.5GW solar auction has received the lowest bids in the state so far with Raasi Green Earth winning 100MW of capacity with a tariff of INR3.47/kWh (US$0.054).

Tamil Nadu Generation and Distribution Corporation’s (TANGEDCO) tender was massively oversubscribed and even had one company, NLC, apply for the full 1.5GW. Many of the major Indian PV players stayed away from the tender and multiple local firms were interested.

The results were as follows:

Developer Tariff (INR/kWh) Capacity bid for
Raasi Green Earth Energy 3.47 100
Sai Yothi Infrastructure 3.6 54
Solitaire BTN Solar 3.69 150
Narbheram Vishram 3.85 100
NVR Energy 3.85 100
Rays Power Infra 3.85 200
Dynamize Solar 3.87 5
ReNew Solar Energy Rajasthan 3.89 100
Clean Solar Power 3.9 104
SRL Green and Clean Power 3.9 6
Sunlight 3.9 1
Tallettutayi Solar Projects 3.9 50
Dev International 3.95 1
G.R. Thanga Maligai & Sons 3.96 10
G.R. Thanga Maligai Firm 3.96 10
G.R.T. Silverwares 3.96 10
Shapoorji Pallonji 3.96 50
NLC India 3.97 1,500
VSR Solar Power 3.98 50
GRT Jewellers India 3.99 52
Balavimodhan 4 5
C.R. Garments 4 2.5
Indira Damper Industries 4 5
Indira Industries 4 5
Mag and Company 4 2.5

It is quite possible that NLC, which put in a bid of INR3.97/kWh, will be given all the remaining capacity not already taken up by developers who put in lower bids. This would mean it could win up to a massive 449MW, but this has not been confirmed.

One analyst told PV Tech that “anything can happen”.

Earlier this week, the Tamil Nadu Energy Development Agency (TEDA) issued a request for proposals (RfP) for the building and maintenance of infrastructure for another 500MW solar park.

This article has been revised to sauy that NLC could win up to 449MW capacity.

Read the entire story