Adani Bids for India’s Largest Solar Tender
The Adani Group has bid for the entire 6.4 gigawatts (GW) capacity aimed at powering the farms of Andhra Pradesh as part of India’s largest solar tender. The other bidders are Andhra Pradesh-based Sri Sai for 5.8GW, NTPC Ltd (1.8GW), Torrent Power Ltd (300MW) and HES-SSISPL (600MW). Bidders had to submit their offers. The tender comes against the backdrop of India’s solar tariffs falling to a record low of ?1.99 per unit at an auction conducted by Gujarat Urja Vikas Nigam Ltd in December. The rates are expected to decline further due to lower cost of financing and investors being flush with capital. A reverse bid auction will be held by the Andhra Pradesh Green Energy Corp. Ltd, the nodal agency, with these projects requiring an investment of around ?25,600 crore. Bids for a total of 14.9GW have been submitted in response to 6.4GW on offer. While Adani Group has placed bids for the entire 6.4GW capacity, Sri Sai has placed bids for 5.8GW. NTPC, HES-SSISPL and Torrent have placed bids for 1.8GW, 600MW and 300MW, respectively. A pre-bid meeting was called on 22 December. Adani Green Energy Ltd (AGEL) has a renewable portfolio of more than 14.19 GW, of which 2.95GW is operational. NTPC, one of the world’s biggest thermal power producers, has mapped up an aggressive playbook for the green energy sector. NTPC and Torrent Power were among firms that bid the lowest solar tariff of Rs1.99 per unit in Gujarat. NTPC, India’s largest power generation utility, has already decided against building new coal-fuelled power projects. It is also looking to buy at least 1GW of operational solar power projects as part of its strategy to have a 32GW clean energy portfolio by 2032. It has 1GW of operational clean energy capacity with an additional 3GW in the pipeline, and plans to add at least 5GW solar capacity in two years.
Tags : ALLIED Adani India Solar Tender Bids Adani Green Energy Ltd (AGEL)