Softbank wins Pavagada solar auction

Softbank has won the 200MW Pavagada solar auction held by the Solar Energy Corporation of India (SECI) with a Rs2.82 ($0.05) per kWh bid. Only one other developer, Tata Power Renewables, put in a bid – of Rs2.83 per kWh – according to Mercom Capital citing SECI officials.

Softbank will sign a 25-year PPA with SECI by the end of July (2018). The tender was launched in January (2018) and is part of the 2GW Pavagada solar park in Karnataka state.

The Rs2.82 per kWh bid is slightly higher than the lowest Rs2.72 per kWh at NTPC’s 750MW Ananthapuramu solar park reverse auction held earlier in May (2018). SBG Clenatech – a Softbank subsidiary – won 250MW at Rs2.73 per kWh at that auction.

To date, the record low for solar tariffs in India remains the Rs2.44 per kWh at SECI's 500MW Bhadla auction in May (2017).

CREDIT: Mia Tahara-Stubbs