Indian Wind Prices Reach Record Low In 1 Gigawatt Auction
Four developers have secured rights to develop a cumulative of 1,000 megawatts in the first-ever wind energy auction held in India.
According to media reports, the four project developers were allocated 250 megawatts capacity each at a tariff of Rs 3.46/kWh (5.2¢/kWh) in the auction, which was organised by the Solar Energy Corporation of India. Mytrah Energy, Green Infra, Inox Wind, and Ostro Energy were the successful bidders.
Mytrah Energy and Green Infra are expected to set up projects in the state of Tamil Nadu, while Inox Wind and Ostro Energy will likely set up projects in the state of Gujarat. The companies will sell electricity generated to Power Trading Corporation of India, which will in turn sign power sale agreements with interested utilities across the country.
All companies except Inox Wind are project developers, while Inox Wind is a turbine manufacturer. Another project developer, Adani Enterprises, also placed a bid of Rs 3.46/kWh (5.2¢/kWh) but could not get any capacity allocation.
The tariff discovered in the auction is lower than the feed-in tariff offered by any state. The lowest feed-in tariff offered is Rs 4.16/kWh (6.2¢/kWh) in Tamil Nadu. Although, Rs 3.82/kWh (5.7¢/kWh) is offered in the state of Maharashtra at sites with low wind speeds.
Apart from Inox Wind, another turbine manufacturer participated in the auction. Gamesa India quoted a tariff of Rs 3.68/kWh (5.5¢/kWh) and failed to make the cut. ReNew Power Ventures, one of the leading project developers in India, also failed to grab any capacity, as it quoted a tariff of Rs 3.47/kWh.