Tata Power and Aljomaih win RUMSL's solar park auction
POWER & RENEWABLE ENERGY

Tata Power and Aljomaih win RUMSL's solar park auction

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.

Image Source


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

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. Image Source 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

Next Story
Infrastructure Urban

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Next Story
Infrastructure Urban

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Next Story
Infrastructure Urban

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, “We are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?