Chennai: The much expected reverse bidding for procuring 500 mw of solar power by Tangedco evoked little response following the Centre’s demonetisation with only 20 bids for mere 116 mw were received and the lowest bidder quoting a tariff of Rs 4.5 per unit.
According to the Tangedco sources, a bidder for 20 mw solar project has quoted the lowest tariff of Rs 4.5 per unit and the highest quoted tariff was Rs 5.05 per unit. In January this year, Rajasthan discovered a lowest solar power tariff of Rs 4.34 per unit.
Tangedco has floated the tender to procure 500 mw of solar power through reverse bidding route with an upper limit of Rs 5.10 per unit to meet its renewable purchase obligation. “We will negotiate with the other solar developers to reduce their tariff to Rs4.50 per unit,” a Tangedco source said, adding that out of the 20 bids, five bids were found to be ineligible.
After the opening of the price bid on Friday, official said that 15 solar developers with a total quantity of 99 mw were in fray. “If the interest rates come down, it will help bring down solar power cost,” official said. Tangedco would float another tender to procure the remaining quantum of solar power after the market gets stabilised, official said.
