Three companies have qualified in the bidding, held by Tamil Nadu for 500 MW of wind power projects. These companies would now set up 900 MW of wind power projects. Six months after the first auction of projects, this second auction has seen wind power tariff falling to a record low of Rs 3.42 per unit.
Regen Power Tech has won 250 MW of projects at the lowest quoted tariff of Rs 3.42 per MW. It is followed by Leap Green Energy at a bid of Rs 3.43 per unit for 250 MW. Neyveli Lignite Limited won 400 MW of projects at Rs 3.45 per unit. These are fixed tariffs for a period of 25 years.
These three bidders would qualify to set up projects, as Tamil Nadu has put a ceiling tariff of Rs 3.46 per unit. In the first auction of wind power projects, held in February by SECI, the tariff was Rs 3.46 a unit.
The project developers have 10 months from the date of signing of the power-purchase agreements to construct their projects. The bids received are much lower than the current average feed-in-tariff (FiT) of Rs 5 per unit in the wind sector.