Maharashtra Saw Overwhelming Response to 1000 MW Auction

Mahoba Solar got 200 MW at Rs 2.71 per unit while as Technique Solar got 20 MW at the same price. Similarly, others who participated in the auctions were ReNew Solar Power which got 250 MW; Acme Solar Holdings won 250 MW, Tata Power Renewable Energy that got 150 MW, and Shapoorji Pallonji Infrastructure Capital that won 80 MW.

Much to the surprise of Maharashtra State Electricity Distribution Co Ltd (MSEDCL) the auction for 1000 MW saw overwhelming response from the developers across the board.

Earlier auctions that were held in December for 1000MW by MSEDCL were undersubscribed thus were re-tendered thereafter. However, this time the Public Sector Undertaking (PSU) received bids from eight developers that amount to total of 1450 MW.

The bids for this auction were same as earlier auctioned bids of 750 MW by NTPC. Earlier, in NTPC auction the tariffs ranged between Rs 2.72-2.73 per unit, while as in MSEDCL auction the tariffs remain Rs 2.71-2.72 per unit.

The lowest bidders among the winners were Adani Green Energy’s special purpose vehicle Mahoba Solar (UP) Pvt Ltd and French developer Technique Solar.

Mahoba Solar got 200 MW at Rs 2.71 per unit while as Technique Solar got 20 MW at the same price.

Similarly, others who participated in the auctions were ReNew Solar Power which got 250 MW; Acme Solar Holdings won 250 MW, Tata Power Renewable Energy that got 150 MW, and Shapoorji Pallonji Infrastructure Capital that won 80 MW. All these winners bid at Rs 2.72 per unit.

Even though the threat of anti-dumping and safeguard duty looms over the imported solar equipment remains the enthusiasm in solar sector remains high. The response to Maharashtra auction is the recent example of that.

Although 70% of safeguard duty recommended by Director General Safeguards has not been implemented, yet the threat looms large.