Telangana solar power: SkyPower offers lowest bid; ACME Group bags 446 MW

SkyPower South East Asia has come up with the lowest bid for supplying solar power to Telangana, with an offer of ₹5.17 per unit for one project of 50 MW and ₹5.26 for three projects of 50 MW each.The ACME Group alone has bagged the mandate for 446 MW in the bid process, accounting for 22 per cent of the 2,000 MW tender.
The Canadian company is among a number of other global solar power majors and wind energy company Mytrah Energy, to have successfully bid for projects offered under the reverse bidding process, in which the Government sets a price and bidders are asked to lower their offers. Sun Edison, Adani Green Energy, Mytrah Energy, Suzlon, Gestamp, Shaapoorji Pallonji, Renew Solar Power, Enercon Solar, Karvy, Aditya Birla, and Reliance Changer Limited are among other firms that have won.

Telangana power utilities received a good response for solar bids they invited. While the utilities invited tenders for 2,000 MW, they received bids for generating 5,998 MW. The price bids, opened on Monday, had the lowest offer of ₹5.17 per unit by SkyPower, creating new benchmark. SkyPower had quoted ₹5.05 per unit earlier this year in tenders by Madhya Pradesh.

ACME Group won the mandate for 446 MW, out of a total 2000 MW tender at weighted average tariff of ₹5.84 per unit.

Manoj Kumar Upadhyay, Founder & Chairman, ACME group said, “The success of the largest solar power tender in India reflects the country’s focus towards solar power. The emergence of ACME Solar in the bid has further strengthened our position with more than 1 GW projects in the pipeline.”

Source: Hindu Business Line

About Ritesh Pothan

Ritesh Pothan, is an accomplished speaker and visionary in the Solar Energy space in India. Ritesh is from an Engineering Background with a Master’s Degree in Technology and had spent more than a decade as the Infrastructure Head for a public limited company with the last 9 years dedicated to Solar and Renewable Energy. He also runs the 2 largest India focused renewable energy groups on LinkedIn - Solar - India and Renewables - India
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