Tata Power and Aljomaih win RUMSL's solar park auction

12 Aug 2021 CW Team

Rewa Ultra Mega Solar's (RUMSL) third 500 MW auction received lower bids, as Saudi firm AlJomaih Energy, TP Saurya (Tata Power), and Water Company enclosed the Neemuch park bids.

On the other hand, Tata Power won two packages of 170 MW and 160 MW at Rs 2.14 and 2.149 each. Aljomaih won the remaining 170 MW with a final bid of Rs 2.15/kWh.

RUMSL is a joint enterprise of Urja Vikas Nigam Limited (MPUVN) of Madhya Pradesh and Solar Energy Corporation of India (SECI).

These bids follow the previous 450 MW RUMSL solar auction, won by Talettutayi Solar Projects Nine (SolarArise) and NTPC Renewables (NTPC), with bids of Rs 2.34 per kWh and Rs 2.33 per kWh, each.

The first 1500 MW of total auctions was held for Agra Solar park, where the bids for 550 MW capacity witnessed O2 Power (through Beempow energy Private Limited) and Avaada Energy acquiring the bids at Rs 2.45 (200 MW) and 2.44 (350 MW), each.

After the government, the attractive bids made proved that they would have to take the impending duty structure into account from April 2022, which are indicating a positive mood between developers regarding the future.

Although, these bids have assured buys already, which make sure that projects would continue on time, unlike many SECI sponsored auctions from 2020 that are still trying to find discom buyers.

The results also indicate that the going would remain difficult for projects bid and won at more than Rs 2.70 levels, as discomS would continue to expect lower prices going ahead.

These bids also build expectations regarding the prices except in the 1,785 MW Rajasthan tender from SECI, whose results should be revealed soon. The tender has attracted a high response of more than 10 GW worth of bids already.

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Also read: Avaada Energy, O2 Power bag 550W solar project in Madhya Pradesh

Also read: NTPC, SolarArise emerge as winners for 450 MW solar projects in MP

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