The Adani Group has bid for the entire 6.4 gigawatts (GW) capacity aimed at powering the farms of Andhra Pradesh as part of India’s largest solar tender, said two people aware of the development.
The other bidders are Andhra Pradesh-based Sri Sai for 5.8GW, NTPC Ltd (1.8GW), Torrent Power Ltd (300MW) and HES-SSISPL (600MW). Bidders had until Tuesday to submit their offers.
The tender comes against the backdrop of India’s solar tariffs falling to a record low of ₹1.99 per unit at an auction conducted by Gujarat Urja Vikas Nigam Ltd in December. The rates are expected to decline further due to lower cost of financing and investors being flush with capital. A reverse bid auction will be held by the Andhra Pradesh Green Energy Corp. Ltd, the nodal agency, with these projects requiring an investment of around ₹25,600 crore.
