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Highlights:
- SolarArise, SJVN Green Energy, and Tata Power Renewable Energy (TPREL) emerged as the lowest bidders for the auction volume, with SolarArise offering the lowest price at Rs 2.90/kWh for 100 MW.
Maharashtra State Electricity Distribution Corporation (MSEDCL) has discovered the best price of Rs 2.90/kWh for 100 MW of the 500 MW it is bidding to secure 500 MW of long-term power from grid-connected solar projects. SolarArise was the lowest bidder, while state-owned SJVN Green Energy, and Tata Power subsidiary Tata Power Renewable Energy (TPREL) accounted for the remaining volume. Both were awarded 200 MW at bid prices of Rs 2.95 and Rs 2.97 per kilowatt hour respectively.
The auction price reflects the margin pressure after the BCD placement this year, and now, it is expected that the solar auction bid will be in the range of Rs 2.75 to Rs 3.00 due to the same reason. SECI and NTPC led the auctions tending to get bids at the lower end, with state-owned entities like MSEDCL and others getting slightly higher bids.
Tata Power renewable energy was awarded only 200 MW out of the 300 MW auction volume after bidding at Rs 2.97/kWh using tank filling process.
The organization invites action | Maharashtra State Distribution company |
||
Type of Technology / Tranch | Sun / T-XI | ||
The ability to buy | 500 megawatts | ||
Date of e-Reverse Auction | Date 02.12.2022 | ||
Open tariff L1 (INR/kWh) | 2.9 | ||
Bider’s name | Ability to bid (MW) |
Awarded capacity (MW) |
The final tax rate (INR/kWh) |
Sunlight | 100 | 100 | 2.9 |
Green Energy SJVN | 200 | 200 | 2.95 |
Tata Renewable Energy | 300 | 200 | 2.97 |
Solar Energy Sprng | 160 | – | 2.98 |
MSEDCL has postponed the auction in October this year (2022). The successful bidder is required by the terms of the bid to use only established commercial and operational technologies for the above projects specified by MSEDCL, to minimize the risks associated with technology and ensure timely commissioning.
MSEDCL will sign the PPA for 25 years starting with the expected start of commercial operations with SolarArise, SJVN Green Energy, and TPREL. The three winners will ensure that the solar modules of the project are guaranteed for the maximum output wattage, which should not be less than 90% at the end of 10 years and 80% at the end of 25 years from the day of operation of the project. .
The claimed capacity utilization factor (CUF), which should not be less than 19% over a period of one year, will be maintained by the winning bidder. In addition, until the end of 10 years from the start of commercial operations, the developer must maintain production to achieve the annual CUF within +10% and 15% of the specified value.
Recently, Tata Power Renewable Energy (TPREL) has bid for 255 MW of wind-solar power from Tata Power Delhi Distribution Limited (TPDDL) at Rs 3.00/kWh. The supply is meant for the Delhi market, where TPDDL is one of the 3 operating discoms, apart from the two BSES discoms.
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