“To address the issue of solar power not finding buyers, the government will bundle projects in order to cushion the hit to state-run power distribution companies (discoms) from high tariffs discovered under certain auctions, Union power minister RK Singh told FE.
To start with, projects with a combined capacity of 3 gigawatt (GW) bid out under the manufacturing-linked solar scheme in January, will be bundled with a total 3.2 GW capacity awarded in the last two Seci auctions held in February and June. This means that the discoms concerned could buy power at a composite rate of `2.66 per unit, against a higher tariff of `2.92 discovered the manufacturing-linked scheme.
The winners of the February auctions for 1.2 GW were SoftBank Group’s SB Energy, Canadian energy firm AMP Energy’s India unit, New York-based Eden Renewables’ Indian arm and ReNew Power. In the June auction for 2 GW — where the all-time low tariff of `2.36 per unit was discovered — the winners were Spanish firm Solarpack’s Indian arm, Avikiran Surya (backed by Italian utility Enel), Eden Renewables, a subsidiary of Germany’s Ib Vogt, UK’s CDC-backed Ayana Renewable, Amp Energy Green and ReNew Power.”
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Chatterjee, Anupam. Financial Express 7 September 2020.