On December 21, 2017, GUVNL Co., Ltd., a Guvtina state contractor, which opened tendering of 500 MW wind power capacity project.
While Indian company Sprng Energy (197 MW installed) reported a price of Rs 2.43 / kWh (3.79 cents). Another company KP Energy (30 MW installed) also reported the price of 2.43 rupees.
This latest price quote is not only 8% lower than the lowest reported wind power price of 2.64 rupees / kWh in the bid invitation of the first round of wind power project in October this year, but also slightly lower than the lowest ever recorded in the tender of India's PV project in May this year (Rs 2.44 / kWh), while the current cost of coal is about Rs 3.20 / kWh. Therefore, at present, wind power is the cheapest in new power generation projects in India.
However, the Indian industry believes that this latest round of wind power quote is too radical and the project's rate of return is hard to guarantee, posing a great risk to investors and banks. Therefore, the industry believes there is only limited room for further price cuts in India's wind power industry.