Power News We love to talk!
Six months after the first auction of projects, the second one has seen wind power tariff falling to a record low of Rs 3.42 per unit. The three companies that have qualified in the bidding, held by Tamil Nadu for 500 Mw of wind power projects, would now set up 900 Mw of wind power projects.
Regen Power Tech has won 250 Mw of projects at the lowest quoted tariff of Rs 3.42 per Mw. It is followed by Leap Green Energy, promoted by F1 racer Narayan Karthikeyan, at a bid of Rs 3.43 per unit for 250 Mw. Neyveli Lignite Limited won 400 Mw of projects at Rs 3.45 per unit. These are fixed tariffs for a period of 25 years.
Infographics These three bidders would qualify to set up projects, as Tamil Nadu has put a ceiling tariff of Rs 3.46 per unit. Anyone bidding below this qualified to set up power projects. In the first auction of wind power projects, held in February by central agency SECI, the tariff was Rs 3.46 a unit.
According to the tender document, the project location and constructing power evacuation infrastructure till the nearest sub-station is the prerogative of the wind power generator. The project developers have 10 months from the date of signing of the power-purchase agreements to construct their projects. The bids received are much lower than the current average feed-in-tariff (FiT) of Rs 5 per unit in the wind sector.
The current government has retired the feed-in-tariff regime in the wind sector to introduce more competition and bring down prices. With an ambitious target, the new and renewable energy ministry plans to auction wind power projects every month. However, it will strictly monitor the bid prices to keep them at affordable levels, Piyush Goyal, minister of state for coal, power, new & renewable energy and mines, had said in July.
- UPERC directs the UP Power Corporation Ltd. (UPPCL) that the procurement of bagasse based power will be done only through Bidding Route Read more
- Bharat Heavy Electricals in big trouble: Powered down by poor order flows Read more
- Wind power can attract Rs 1 lakh crore investments by 2020: CRISIL Read more
- Lenders order forensic audit of debt-laden JSPL Read more
- 2MW solar panels to power WR suburban stations in 6 months Read more
- Suzlon Group US arm SWECO's service division wins OMS contract extension with for 231 wind turbine Read more
- Temasek-backed Sembcorp set to pump in $600 million in India power arm Read more
- Govt deallocates 10 captive coal blocks Read more
- Ministry plans sovereign fund for coal buys abroad Read more
- 1840 MW nuke power generated after Indo-US nuclear deal Read more