Tata Power and Aljomaih win RUMSL's solar park auction
POWER & RENEWABLE ENERGY

Tata Power and Aljomaih win RUMSL's solar park auction

Rewa Ultra Mega Solar's (RUMSL) third 500 MW auction received lower bids, as Saudi firm AlJomaih Energy, TP Saurya (Tata Power), and Water Company enclosed the Neemuch park bids.

On the other hand, Tata Power won two packages of 170 MW and 160 MW at Rs 2.14 and 2.149 each. Aljomaih won the remaining 170 MW with a final bid of Rs 2.15/kWh.

RUMSL is a joint enterprise of Urja Vikas Nigam Limited (MPUVN) of Madhya Pradesh and Solar Energy Corporation of India (SECI).

These bids follow the previous 450 MW RUMSL solar auction, won by Talettutayi Solar Projects Nine (SolarArise) and NTPC Renewables (NTPC), with bids of Rs 2.34 per kWh and Rs 2.33 per kWh, each.

The first 1500 MW of total auctions was held for Agra Solar park, where the bids for 550 MW capacity witnessed O2 Power (through Beempow energy Private Limited) and Avaada Energy acquiring the bids at Rs 2.45 (200 MW) and 2.44 (350 MW), each.

After the government, the attractive bids made proved that they would have to take the impending duty structure into account from April 2022, which are indicating a positive mood between developers regarding the future.

Although, these bids have assured buys already, which make sure that projects would continue on time, unlike many SECI sponsored auctions from 2020 that are still trying to find discom buyers.

The results also indicate that the going would remain difficult for projects bid and won at more than Rs 2.70 levels, as discomS would continue to expect lower prices going ahead.

These bids also build expectations regarding the prices except in the 1,785 MW Rajasthan tender from SECI, whose results should be revealed soon. The tender has attracted a high response of more than 10 GW worth of bids already.

Image Source


Also read: Avaada Energy, O2 Power bag 550W solar project in Madhya Pradesh

Also read: NTPC, SolarArise emerge as winners for 450 MW solar projects in MP

Rewa Ultra Mega Solar's (RUMSL) third 500 MW auction received lower bids, as Saudi firm AlJomaih Energy, TP Saurya (Tata Power), and Water Company enclosed the Neemuch park bids. On the other hand, Tata Power won two packages of 170 MW and 160 MW at Rs 2.14 and 2.149 each. Aljomaih won the remaining 170 MW with a final bid of Rs 2.15/kWh. RUMSL is a joint enterprise of Urja Vikas Nigam Limited (MPUVN) of Madhya Pradesh and Solar Energy Corporation of India (SECI). These bids follow the previous 450 MW RUMSL solar auction, won by Talettutayi Solar Projects Nine (SolarArise) and NTPC Renewables (NTPC), with bids of Rs 2.34 per kWh and Rs 2.33 per kWh, each. The first 1500 MW of total auctions was held for Agra Solar park, where the bids for 550 MW capacity witnessed O2 Power (through Beempow energy Private Limited) and Avaada Energy acquiring the bids at Rs 2.45 (200 MW) and 2.44 (350 MW), each. After the government, the attractive bids made proved that they would have to take the impending duty structure into account from April 2022, which are indicating a positive mood between developers regarding the future. Although, these bids have assured buys already, which make sure that projects would continue on time, unlike many SECI sponsored auctions from 2020 that are still trying to find discom buyers. The results also indicate that the going would remain difficult for projects bid and won at more than Rs 2.70 levels, as discomS would continue to expect lower prices going ahead. These bids also build expectations regarding the prices except in the 1,785 MW Rajasthan tender from SECI, whose results should be revealed soon. The tender has attracted a high response of more than 10 GW worth of bids already. Image Source Also read: Avaada Energy, O2 Power bag 550W solar project in Madhya Pradesh Also read: NTPC, SolarArise emerge as winners for 450 MW solar projects in MP

Next Story
Infrastructure Urban

Consistent reforms will foster growth and reduce investor risk

Incorporated in 1986 as a wholly owned subsidiary of State Bank of India, SBI Capital Markets Ltd (SBICAPS) is a SEBI-registered Category I merchant banker and research analyst. It offers the entire bouquet of investment banking and corporate advisory services under one umbrella, covering project advisory and structured financing, capital markets, mergers and acquisitions, private equity, ESG advisory, startup advisory and stressed assets resolution. Headquartered in Mumbai, SBICAPS has seven regional offices of which six are in India (Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata and New ..

Next Story
Infrastructure Urban

Adani Group Invests $240M in Global Skills Academy

The Adani Group has announced a partnership with ITE Education Services (ITEES) of Singapore to establish a world-class talent pipeline for industries such as Green Energy, Manufacturing, Hi-tech, Project Excellence, and Industrial Design. The initiative will see an investment of over $240 million by the Adani family to set up internationally benchmarked schools of excellence, named Adani Global Skills Academy. These finishing schools will train students from technical and vocational backgrounds, equipping them with industry-relevant certifications. Graduates will have employment opportunities..

Next Story
Infrastructure Urban

Swiggy to Invest $120M in Scootsy for Expansion

Food and grocery delivery giant Swiggy Ltd announced on Friday that it will invest up to $120 million in its wholly owned subsidiary Scootsy Logistics in one or more tranches. Scootsy specializes in supply chain services and distribution, including warehouse management, in-warehouse processing with value-added services, and order fulfillment for wholesalers and retailers. "We wish to inform that the Board of Directors of the company, at its meeting held on Friday, February 21, 2025, has approved the investment by the company in the equity shares of Scootsy Logistics Private Limited, a wholly..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?