CREDA Invites Revised Rates for Grid-Connected Rooftop Solar PV Projects in Chhattisgarh
The Chhattisgarh Renewable Energy Development Agency (CREDA) has asked rooftop solar developers to submit revised rates for project implementation of grid-connected projects in the state. The agency has mandated that bidders quote their best competitive price per kilowatt peak (kWp) on CAPEX and OPEX modes per the Ministry of New and Renewable Energy (MNRE) guidelines based on a percentage below the SECI benchmark price.
The bidders must quote below Rs.67.8 (~$0.999)/kWp (CAPEX) and Rs.5.916 (~$0.0872)/kWh (OPEX). The new rates will apply to the state’s portion of 500 MW grid-connected rooftop solar PV to be auctioned by Solar Energy Corporation of India (SECI). The SECI recently released a country-wide list of lowest prices from a 500 MW rooftop capacity auction. The rate discovered in the SECI auction for the state of Chhattisgarh was much lower than the prevalent rate in the state.
An official at CREDA told Mercom, “CREDA has been approached by developers as there was confusion regarding the terms and conditions of power purchase agreements (PPAs) from CREDA and the PPAs for the SECI 500 MW auction. There was huge disparity in the lowest discovered price by SECI and what was prevalent in the state of Chhattisgarh. Hence, keeping in mind the developers’ concerns, the CREDA invited revised rates from bidders.” The official also confirmed that the bid-submission date has been extended to November 30, 2016. The prior bid-submission date was November 15, 2016.
The source at CREDA also said that the state government is pushing for renewable expansion in the state, particularly solar, as the state’s population is concentrated in villages and remote areas. The CREDA is bound to remove all hurdles to ensure fast-pace installations.
Image credit: CREDA
Saumy is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism & Mass Communication from the Manipal Institute of Communication at Manipal University. More articles from Saumy Prateek.