Inox Wind has won the third round of auction conducted by Solar Energy Corporation of India (SECI) to develop 200MW wind farm in the Indian state of Gujarat.
SECI is an Indian government enterprise which conducts auctions and awards clean energy contracts in the country.
Inox Wind has won the auction at a fixed price of INR2.44($0.04)/unit of electricity for 25 years.
The quoted price is claimed to have been lower than all the domestic as well as international IPPs who participated in the auction. The auction win adds Inox Wind’s capacity to 800MW.
The wind project will be located in the Kutch region of Gujarat and is expected to be executed within 12-15 months.
For this project, Inox Wind will supply, install and commission its 2MW wind turbines and will also be responsible for the development, construction, commissioning and long-term operations and maintenance services for the project.
The company stated that it is scaling up its auction-based order bookings as the government is executing its target of achieving 10GW of wind power auctions for FY19 and FY20 each.
Inox Wind CEO Kailash Tarachandani said: “This win in the SECI-3 auctions has boosted Inox Wind’s auction-based order book to a sector leading 800MW. This win reiterates our competitiveness and ensures that Inox Wind continues to play a key role in developing the Indian wind energy industry which is entering an exciting period of sustainable growth.
“We look forward to the upcoming auctions of 10GW each in FY19 and FY20 as shared by the Honourable Power Minister to achieve the 60GW wind power capacity goal by 2022 for the country.”
In October last year, the company had won 250MW in the second round of auction at a fixed price of INR2.65 ($0.04)/unit for 25 years. The wind project would be constructed in the Kutch region in Gujarat.
In August 2017, Inox Wind had signed a deal for developing a 100MW wind power project for Adani Green Energy at Kutch in the state of Gujarat. The capacity was won under the first round of auction conducted by SECI for wind power projects connected on the central grid.