Small and mid-sized renewable energy developers in the country are increasingly bidding for solar power generation tenders, powered by freshly raised capital.
According to sources, the winner in the latest solar auction in the country was Rising Sun Energy, a small developer which bagged a 190MW project in an auction conducted by state-run power generator NTPC.
Rising Sun Energy quoted a tariff of Rs 2.25 per unit for projects to be built in Nokh solar park in Rajasthan, sources cited earlier said, adding that the New Delhi-based company beat competition from a mix of small, mid-sized and large renewable energy developers. The auction’s result winner was announced late last week.
Vinay Rustagi, managing director of Bridge To India, a renewable energy consultancy firm, said, "We continue to see strong interest from some of the smaller developers who have raised a lot of money. They are eager to win new projects in order to deploy capital."
Email queries sent to NTPC and Rising Sun Energy remained unanswered till as of press time.
The features of the Rajasthan auction could be likened to the one conducted three months ago by the Solar Energy Corporation of India (SECI), the nodal agency through which the renewable energy ministry conducts wind and solar auctions. Winners of that auction, too, have to build projects in Rajasthan.
The winning tariff in the November auction was Rs 2 per unit. The main difference between the two auctions is that the SECI auction was for a non-solar park, meaning projects can be built anywhere in Rajasthan.