SECI’s 2GW Tender Undersubscribed By 800MW

SECI’s (The Solar Energy Corporation of India) 2GW Tranche-V wind tender has been undersubscribed by 800MW.

SECI invited bidding for the tender earlier this year in May and just recently concluded the wind auction, with lowest bid standing at Rs.2.51/Kwh. The company believes the shortage of connectivity across the country to have taken its toll on the tender. The avoidance by other wind majors is a definite wake up call for the government to provide better power evacuation facilities for Wind Power generators, besides a timely reminder of the challenges that lie ahead.

As per reports, 1200MW worth of bids were received against the 2GW tender, with companies like ReNew Power, Adani Green, Spring Energy, and Alfanar each submitting bids for 300 MW.

SECI’s under subscription comes after the company’s oversubscription for its 2GW solar plant, highlighting the shift towards solar projects by large-scale corporations.

With India expected to generate close to 75% of its power requirements from renewables by 2050according to some research reports, the challenge, and opportunity for others might lie in enabling a robust infrastructure to make the shift, besides upgrading existing transmission sector.

Experts have already been predicting a shift to storage infrastructure too, subject to new innovations that can drive down costs to a level that is acceptable and viable.

For now, there is a chance that SECI might actually go for re-bidding on this one, as it takes a call on the existing bids, where winning bidders will no doubt put in some caveats now.

copyright:@iamrenew.com