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SECI solar tariff remains unchanged, gets only two bidders

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Solar tariffs remained unchanged in an SECI auction on Wednesday that attracted only two bidders. This has forced SECI to scale down allotment to 40% of the total offered.

SB Energy bagged 330 MW at Rs 2.65 per unit, while Chennai-based GRT Jewellers won 150 MW at Rs 2.53 per unit reports ET citing sources.  Tariffs in June were in the range of Rs 2.54-2.55 per unit.

The tariff ceiling had been set at Rs 2.65 per unit, the same as in the June auction. However, unlike last time when the tender was oversubscribed, bids were received only from two companies, forcing SECI to reduce allotment to 480 MW from 1,200 MW.

This is the first solar tender by SECI to get such a poor response, experts told ET. They said solar developers already have a large pipeline after 28.5 GW worth of projects were auctioned in the past 18 months.

In addition, the risk environment is deteriorating, with Andhra Pradesh attempting to renegotiate wind and solar power purchase agreements.

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