The auctions were held on Tuesday by Tamil Nadu’s state-owned electricity distribution company, Tangedco.
Regen Power Tech has won 250 Mw of projects at the lowest quoted tariff of Rs 3.42 per Mw. It is followed by Leap Green Energy, promoted by F1 racer Narayan Karthikeyan, at a bid of Rs 3.43 per unit for 250 Mw. Neyveli Lignite Limited won 400 Mw of projects at Rs 3.45 per unit. These are fixed tariffs for a period of 25 years.
These three bidders would qualify to set up projects, as Tamil Nadu has put a ceiling tariff of Rs 3.46 per unit. Anyone bidding below this is qualified to set up power projects. In the first auction of wind power projects, held in February by central agency SECI, the tariff was Rs 3.46 a unit.
The country aims to increase its renewable energy capacity to 175 GW by 2022.
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