Adani Green Energy part of Adani Group has recently won the world’s largest solar energy tender to build 8- gigawatts of solar power and 2-gigawatts of panel manufacturing over the next few years, worth $6 Billion. Tenders are also allotted to Renew Power Pvt. Ltd. And Azure Power Global Ltd.
What was the tender and bidding all about?
The Solar Energy Corporation of India (SECI) keeping in mind India’s goal of a 100-gigawatt solar target, allowed bidding for tender to build 8-gigawatt of solar power. First, 2-gigawatt would be built by 2022, with three more 2-gigawatt projects to be built in the subsequent three years. The winning bid was Rs. 2.92 per kilowatt-hour. It is to be noted that recently at the start of this year SECI has made various changes in its clauses to suit the interested bidders, which it did. The lowest bid seen in India for the solar projects has gone as low as Rs. 2.4, but with the financial struggles that the local manufacturers have to deal with companies have requested to keep the bidding price high.
What impact will this tender bring in the country?
As claimed by the company this project will generate around 4,00,000 direct and indirect jobs when fully completed and would displace around 900 million tons of carbon dioxide over its lifetime. Also, as SECI stated that with the ease in production throughout the country it is likely that the demand for energy would grow, and keeping in mind the requirement of the future fully functional economy these projects become extremely necessary to be executed.