3 developers – SunEdison, Azure and Welspun together bag more than 75% of the total 500 MW that was put up for bidding by Karnataka Renewable Energy Development Ltd(KREDL). While 30 developers had placed a total of 68 bids, only 8 bidders won. Interestingly, 13 bids were sub – Rs. 7/kWh mark, and only 3 bids were above the Rs. 8/kWh mark.
Is this part of the “winner-takes-all” trend wherein 5-6 companies bag most of the projects in any bid? It might be too early to say, but the upcoming Telangana solar bid opening will provide some more clues. (Larger projects help the government in better price discovery, but at the cost of creating an oligopoly, and restricting the number of players across the value chain. The former might be more important than preventing the latter at this stage).
Some of the highlights of the bid results are given below.
The details of the winners are given below.
The official bid result can be downloaded from the KREDL website here.