(ET)
Tariffs fell to Rs 2.72-2.73 per unit in the 750 MW auction conducted by NTPCNSE -1.12 % for projects at Ananthapuram Solar Park in Andhra Pradesh, a sizeable drop from previous auctions. But they were still well above the record-low solar price of Rs 2.44 per unit reached at an auction held in May 2017.
The winners, each of whom got 250 MW, were Sprng Energy, the renewable energy platform of UK-headquartered private equity firm Actis LLP; Ayana Renewable Power, backed by the UK government’s development finance institution CDC; and SB Energy Solar, the joint venture of Japan’s SoftBank, Taiwan’s Foxconn and Bharti Airtel. While Sprng Energy sought a tariff of Rs 2.72 per unit, Ayana and SB Energy both quoted Rs 2.73 per unit.
Sprng Energy is developing around 750 MW of renewable energy projects in India – 220 MW of solar and 550 MW of wind. Its backer Actis LLP also financed Ostro Energy, which built a renewable portfolio of around 1100 MW, was recently bought by ReNew Power for Rs 10,800 crore – the biggest deal in the sector so far. SB Energy has 350 MW of commissioned solar power in Andhra Pradesh and is developing another 400 MW in Rajasthan. However, this is Ayana Renewable Power’s first venture in India. CDC has backed other renewable energy businesses in India such Green Infra, but had been looking to set up its own renewables platform in the country for some time.
