The Tamil Nadu Generation and Distribution Corporation (TANGEDCO) is set to sign power purchase agreements (PPAs) with successful bidders in the recently conducted 1,500 MW solar auction at INR 3.47 ($0.054) per kWh, the lowest price quoted in this tender.
According to consulting company Mercom Capital Group, all the bidders are willing to sign the PPA after the approval of the power regulator Tamil Nadu State Electricity Regulatory Commission (TNERC), even if their price quoted was higher. In example, the highest winning quote in this tender came from NLC India with INR 3.97 ($0.0614).
In the auction not all bidders have been awarded the desired capacities. Solitaire BTN Solar Private Limited had bid for 150 MW, but was awarded 100 MW; Rays Power Infra bid for 200 MW, but was awarded 100 MW, and NLC India had bid for the entire 1,500 MW, but was awarded 709 MW.
According to Mercom’s India Solar Project Tracker, Tamil Nadu has installed capacity of 1.6 GW of solar and approximately 800 MW are under various stages of development.
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