Finance, Other, solar

Andhra Pradesh receives lowest solar bid offer of Rs 6.52/unit

According to reports, the bidding process for setting up grid-connected solar power farms in Andhra Pradesh enters a crucial phase with the opening up of the price bids.

According to sources, the lowest quote was by Essel Mining and Industries Ltd, a company promoted by Aditya Birla Group, at Rs 6.52 per unit.

The average range quoted for one unit varied from Rs 7 to close to Rs 9 a unit.

The State Government had appointed APTransco as a nodal agency for the solar bidding process directing it to invite interest to develop 1,000 MW of solar photovoltaic farms within a year of finalisation of the process.

APTransco received close to 300 bids from 184 bidders with a proposal to develop 1,354 MW. Alfa Infra Projects with 80 MW and Lanco Solar with 60 MW bid for highest capacities at several locations. Madhucon Sugar and Power, Azure Power, Pennar Industries, Premier Solar, Hetero Drugs, Astonfield, NSL Renewables, are among others in fray for setting up solar PV units.

The proposals will be evaluated location-wise and various offers studied. Based on the lowest bid or after arriving at average price, bidders will be finalised. In places where the lowest bidder has not taken up the entire capacity allocated there, others will get a chance, according to a participant who was placed L2 in one of the locations.

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