Tuesday, March 20, 2018

An auction to award 500 MW of wind power contracts in Maharashtra on 6 March, 2018 saw tariffs firming up, breaking a streak of plummeting prices for electricity generated from the renewable energy source. Adani Green Energy and KCT Renewable Energy offered to supply electricity at Rs 2.85 per unit in their bids for 75 MW each. All other winners of the auction, conducted by Maharashtra State Electricity Distribution Company Ltd, quoted a higher amount.

Previous auctions have seen wind power tariffs falling below Rs 2.50 per kWh, with the lowest being Rs 2.43 in a 500 MW reverse auction conducted by Gujarat Urja Vikas Nigam Ltd in December last year. In February this year, the largest wind auction of 2000 MW capacity conducted by the Solar Energy Corporation of India saw the winning tariffs at Rs 2.44 and Rs 2.45.

States like Gujarat have more efficient wind zones and systems than Maharashtra. Inox Wind Ltd, Mytrah Energy and Hero Wind Energy quoted Rs 2.86 per unit for 50 MW, 100 MW and 75 MW of projects. Torrent Power placed the highest bid at Rs 2.87 per unit for 146 MW - it will though get only the balance of the 500 MW.