5 MW Solar Project Commissioned in Uttar Pradesh at Renegotiated Tariff
Agarwal Solar Power (UP) Private Limited, an Agrawal Group subsidiary, commissioned a 5 MW grid-connected solar project in Mahoba, Uttar Pradesh. The project was awarded by the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA). The off-taker is the Uttar Pradesh Power Transmission Corporation.
The project utilized Indian modules by made by Agrawal Renewable Energy Pvt. Ltd. From Goa, and PV Inverters from Hitachi.
According to Mercom’s India Solar Project Tracker, Agarwal Solar power had won a bid to develop the 5 MW solar project by quoting a tariff on Rs. 8.09 (~$0.13)/kWh. The PPAs were signed in December 2015.
In light of the recent low tariffs we are seeing in India, the UPNEDA has been requesting solar companies to make reductions in their bids. When asked whether the company had been approached by the state agency to reduce its tariff, Mr. Govind Pingle, the Operations & Business Development Manager of Agarwal Group said, “We have revised the tariff to Rs.7.02 (~$0.11)/kWh as requested by the state.” Mr. Pingle further commented that the power purchase agreement has been signed for a 12-year period.
Image Credit: Agarwal Group