UP solar tender oversubscribed.

In what can be seen as a validation of Uttar Pradesh government’s optimism regarding setting a competitive upper tariff of Rs. 3.10/kWh for its 550 MW solar tender, its entire tender bucket has been oversubscribed well within the benchmark set by it.

While the National Thermal Power Corporation (NTPC) has emerged as the lowest bidder in the reverse auction conducted by the Uttar Pradesh New and Renewable Energy Development Agency for 550 MW of grid-connected solar projects, which quoted a tariff of Rs. 3.02/kWh to develop 85 MW, Bastille Solar quoted a tariff of Rs. 3.04/kWh to develop 70 MW.

The firm also quoted a tariff of Rs. 3.07/kWh to develop another 70 MW. Giriraj Solar also quoted Rs. 3.07/kWh to develop 100 MW, as did Tata Power Renewable Energy Limited for developing 50 MW, along with Jakson Power for developing 50 MW and Mahoba Solar for another 50 MW. Speaking to FE an official of UPNEDA said that Tata Power also quoted Rs. 3.08/kWh to develop another 50 MW as did Mahoba Solar for 50 MW.

THE FINANCIAL EXPRESS