Chhattisgarh had floated 100 MW RFP in the month of March 14 for procurement of solar power through tariff based competitive bidding. Many companies have participated in this bid with a wind range of proposed capacity. Now the result of the bidding is out and we have the successful bidders. Like the previous state/ centre bids, results of this bid is depicting almost same pattern. Lowest 3-4 bids are quite competitive, most of the successful bidder bids at a very close price and the last 2-3 bidders have taken risk and quoted high price.
In the bid, AZURE Power has been most competitive followed by ACME, WAA solar, Interocean, and Welspun. AZURE Power has won three projects at almost same price which is around Rs. 6.3/ kWh. ACME, WAA solar, Interocean, and Welspun have bided at a price of around Rs. 7.20 kWh, Rs. 7. 80/ kWh, Rs. 7.90/ kWh and Rs. 7.90/ kWh respectively. Highest price was quoted by the Singhal Forestry which is approximate Rs. 10/ kWh.
Welspun has won the highest capacity in bidding @ 34 MW followed by AZURE Power and Acme @ 30 MW each.
Chhattisgarh bid results are out now and Firstgreen team congratulates to all the successful bidders. Now the market eyed upon the Karnataka bid. Let’s hope like Chhattisgarh bid, Karnataka bid will also encourage investors to invest in solar business.