Tuesday, October 4, 2022

Adani & Azure Power win SECI solar tender

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New Delhi: Adani Green Energy and Azure Power have won the first manufacturing-linked solar tender floated by SECI (Solar Energy Corporation of India), Ministry of New and Renewable Energy (MNRE) Secretary Anand Kumar said on Friday. Speaking on the sidelines of a renewable energy summit, Kumar said, “The bids have been finalised and only paperwork remains.”

SECI solar tender: Tariff fixed Rs 2.92

Kumar also added that the tariff for the solar tender awarded by SECI has been fixed at Rs 2.92. Adani had bid for 1.5 GW solar cell manufacturing capacity and 6 GW generation capacity, whereas Azure Power had bid for 500 MW solar cell manufacturing capacity and 2 GW generation capacity, the top bureaucrat said.

Kumar added that with the green shoe option, the capacity for Adani would increase to 2 GW of solar cell manufacturing capacity and 8 GW generation capacity. And for Azure, it will be 1,000 MW solar cell manufacturing and 4 GW generation capacity.
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Govt expects Rs 6,000-cr investment, 10,000 jobs

The government is expecting an investment of Rs 6,000 crore for setting up 1 GW of solar manufacturing facilities. This is expected to generate permanent direct employment for up to 10,000 people. Currently, India imports 95 percent of its solar module requirement from China, leading to a forex outflow of around $10 billion annually.

The backdrop

The bid had been extended multiple times due to a tepid response from project developers. The tariff ceiling of the tender was also raised to Rs 2.92 a unit from Rs 2.75 a unit. In order to make the offer more lucrative, the Indian Renewable Energy Development Agency (IREDA) had also offered financing options for those developing SECI projects.

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