SunEdison wins reverse auction for 500-MW solar project in AP

SunEdison has won auction for a 500 megawatt (MW) project in Andhra Pradesh to supply solar power at Rs 4.63 per kilowatt-hour (Kwhr). In an e-reverse auction conducted by NTPC on November 3, 2015 for 500 MW (10 projects of 50 MW each) to be set up at Ghani Solar Park in Andhra Pradesh under National Solar Mission, phase-II, batch-II, tranche-I of Ministry of New & Renewable Energy, Government of India, NTPC received the lowest tariff of Rs 4.63 per unit of electricity from SunEdison.
 
Total 30 bids were received totalling to 5500 MW capacity. Lowest quoted tariff in price bid was Rs 5.21 per Kwhr and weighted average quoted tariff in price bid was Rs 5.334 per Kwhr.
   
Weighted average quoted tariff at closing of e-reverse auction was Rs 4.63/Kwhr, with reduction of Rs 0.704/ Kwhr in the reverse auction, said the press release of Ministry of New and Renewable Energy.