Four developers emerged winners in the reverse auction of 1.2 GW of Interstate Transmission System (ISTS) connected solar projects, conducted by the NTPC. The auction saw the lowest winning bid of INR 2.43/ kWh.
Commenting on the auction results, JMK Research stated: “The tariffs seen in the last two auctions, i.e., earlier SECI 2 GW with INR 2.36/kWh tariff and this one are highly aggressive. The low tariff trends can be a desperate situation wherein developers are looking to take advantage of the current situation wherein only safeguard duty of 14.9% is applicable.”
“The module prices are also likely to fall further with the increasing gap in the demand-supply situation in the next few months due to slowdown triggered by Covid-19 pandemic.”
According to the JMK Research price tracker, in January-July 2020 period, prices of multi-crystalline modules have fallen by more than 15% in the Indian market.
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