Sprng Energy Quotes Lowest Tariff of ₹2.77/kWh in NTPC’s 1.2 GW Wind Auction
NTPC had tendered the capacity in March 2018
The National Thermal Power Corporation (NTPC) has auctioned 1.2 GW of interstate transmission system (ISTS)-connected wind power projects to be developed across India.
In the auction, Sprng Vayu Vidyut Private Limited emerged as the winner by quoting the lowest (L1) tariff of ₹2.77 (~$0.0397)/kWh to develop 200 MW of wind projects.
In all, seven bidders had participated in the financial bidding, with tariffs ranging between a high of ₹2.89 (~$0.0414)/kWh and a low of ₹2.77 (~$0.0397)/kWh.
Mytrah Energy quoted a tariff of ₹2.79 (~$0.0400)/kWh to develop 300 MW, Srijan Energy quoted ₹2.80 (~$0.0402)/kWh to develop 50 MW, ReNew Wind Energy quoted ₹2.81 (~$0.0403)/kWh to develop 300 MW, and Hero Wind Energy Private Limited quoted ₹2.82 (~$0.0404)/kWh to develop 300 MW.
Fasten Power quoted ₹2.83 (~$0.0406)/kWh to develop 300 MW, but as the capacities are awarded in a bucket filling order, it will only be awarded 50 MW. Moreover, Kilaj Solar Private Limited quoted ₹2.89 (~$0.0414)/kWh to develop 300 MW but could not win.
When contacted, an NTPC official said, “Yes, the 1,200 MW ISTS-connected wind auction is complete. Good tariffs have been received, all seven bidders quoted below ₹3 (~$0.043)/kWh, and that is satisfactory, considering the reduction in the tendered capacity.”
Mercom previously reported that NTPC, foraying into competitive wind auctions, recently issued a mega tender for the development of 2 GW of ISTS-connected wind power projects across India. Per the NTPC official, after deliberating with bidders, NTPC had reduced the tendered capacity to 1,200 MW.
According to MNRE, the cumulative wind power installed capacity of the country reached 34.4 GW by the end of July 2018.
Transmission issues are plaguing the renewable energy sector now. Recently, Solar Energy Corporation of India (SECI) cancelled the undersubscribed 2 GW Tranche-V ISTS-connected wind tender and modified the 2.5 GW of ISTS-connected wind tender under Tranche-VI and instead retendered 1.2 GW under Tranche-V.
The L1 tariff quoted in this auction is ₹0.26 (~$0.0037)/kWh more than the L1 tariff of ₹2.51 (~$0.0386)/kWh quoted in SECI’s recently concluded Tranche-IV ISTS-connected wind auction. This L1 tariff is also ₹0.34 (~$0.0048)/kWh more than the lowest ever wind tariff in India of ₹2.43 (~$0.0373)/kWh, quoted in the Gujarat Urja Vikas Nigam Ltd. (GUVNL) 500 MW auction.
Saumy is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism & Mass Communication from the Manipal Institute of Communication at Manipal University. More articles from Saumy Prateek.