India records lowest wind power tariffs
Record-low bids of INR3,460 (US$51.79) per MWh has been drawn in India first ever auction targeting 1 GW of wind power capacity.
Besides India first wind tender, the country has been holding solar auctions for some time now. Earlier this month, solar tariff bids in India fell to an unprecedented level of just INR2,970 (US$44.46) per MWh.
The winners in the competitive process where each were awarded 250 MW except for the last one, are:
- London-based Mytrah Energy Ltd
- Actis-backed Ostro Kutch Wind Pvt Ltd
- The infrastructure arm of wind turbine maker Inox Wind Ltd
- Green Infra Wind Energy Ltd
- Adani Green Energy
The latter won 50 MW project. All companies are project developers except Inox Wind which is a turbine manufacturer.
Inox Wind and Ostro Energy would set up projects in the state of Gujarat while Mytrah Energy and Green Infra are expected to set up projects in the state of Tamil Nadu.
The companies shall sell electricity generated to Power Trading Corporation of India which will in turn sign power sale agreements with interested utilities across the country.
Vikram Kailas, chief executive of Mytrah Energy, said:
"The auctions have been hard fought and have led to tighter pricing than one would have foreseen even a few months earlier."
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