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Solar tender and auction activity in India had a steep decline in November 2017. The solar capacity tendered across the country during the month fell by 25 percent to 300 MW compared to the October 2017 total and the amount of solar auctioned dropped by 98 percent to just 5 MW.
“Hopefully, tender and auction activity has bottomed out. The GST issue is almost behind us and the government is asking DISCOMs to refrain from PPA renegotiations, even though the anti-dumping case is still looming,” said Raj Prabhu, CEO of Mercom Capital Group.
The largest tender seen during the month was issued by Karnataka Renewable Energy Development Limited (KREDL), the renewable energy implementing agency in Karnataka. KREDL re-tendered 200 MW of solar to be developed at the Pavagada Solar Park in Karnataka.
The Solar Energy Corporation of India (SECI) was responsible for the only solar auction held in November when it auctioned a 5 MW grid-connected solar PV project under the National Solar Mission Defense viability gap funding (VGF) program for the Ordnance Factory in Kanpur, Uttar Pradesh. Giriraj Renewables Private Limited emerged as the successful bidder by quoting a tariff of Rs 4.18 (~$0.064)/kWh without VGF.
According to Mercom’s India Solar Project Tracker, cumulative solar installations in India surpassed 17 GW as of September 2017, with over 7 GW installed in the first nine months of 2017.