Daily News Wrap-Up: Maharashtra DISCOM’s Tender to Procure 1 GW of Solar Power
EU’s solar generation doubled to 19.3 TW during the 2017-22 period
February 20, 2023
Maharashtra State Electricity Distribution Company (MSEDCL) has invited bids for the procurement of 1,000 MW of solar power from projects to be developed in the state. The last date to submit the bids is March 17, 2023. Bids will be opened on the same day. MSEDCL has set a ceiling tariff of ₹3.30 (~$0.039)/kWh for the tender. Bidders will have to submit ₹10,000 (~$120.9) + 18% GST as a bid processing fee.
Rooftop solar photovoltaics can help Europe generate 680 TW of electricity annually – which is a quarter of the current consumption in the European Union— if the administration strengthens the financing policies like the asset-backed securities that helped the U.S. solar sector with $8.6 billion financing in 2022. Kroll Bond Rating Agency released the analysis in a report published recently. It said that solar securitization encouraged photovoltaic adoption by paving the way for capital market funding of more than $27 billion in the U.S. by the end of 2022.
NTPC has invited bids to raise external commercial borrowing (ECB) in the form of Tokyo Overnight Average Rate (TONA)-linked unsecured term loan in Japanese Yen (JPY) equivalent to $150 million (~₹12.4 billion) plus a greenshoe option of JPY equivalent to $600 million (~₹49.6 billion). The proposed facility is being raised under the automatic route as permitted under the ECB guidelines of the Reserve Bank of India. The last date to submit the bids is March 1, 2023. Bids will be opened on the same day. Banks or financial institutions can submit bids individually or with other banks or financial institutions in a consortium of not more than three financial institutions.
Maharashtra State Electricity Distribution Company has invited bids to procure 200 MW of wind power on a long-term basis from intrastate projects. The last date to submit the bids online is March 15, 2023. Bids will be opened on the same day. MSEDCL has set a ceiling tariff of ₹2.65 (~$0.032)/kWh for the tender. Bidders will have to submit ₹10,000 (~$120.9) plus GST as a bid processing fee. They will also have to furnish ₹100,000 (~$1,209)/MW per project as an earnest money deposit.
The Solar Energy Corporation of India has invited bids for a 2 MW solar project along with a 1 MW Battery Energy Storage System at Kaza, Himachal Pradesh. The scope of the work includes design, engineering, supply, construction, erection, testing, and commissioning, including operation and maintenance for five years. The last date for the submission of bids is April 3, 2023. Bids will open on the same day. Bidders must furnish a tender processing fee worth ₹25,000 (~$302) and an earnest money deposit of ₹3,400,000 (~$41,047).
The Andhra Pradesh Electricity Regulatory Commission has set a levelized tariff of ₹2.64 (~$0.032)/kWh for the 11th to 20th year of operation for wind power projects in the state. The Commission added that the distribution companies would have the first right of refusal of power purchase if the projects continue to operate after 20 years from the commercial operation date. The tariff beyond the 20th year should be mutually agreed upon by both parties and approved by the Commission.
Bengaluru-based electric vehicle startup FreshBus has secured ₹260 million (~$3 million) in seed funding from ixigo, an AI-based travel app, for the launch of inter-city electric bus services across India. The company said it would utilize the funds to offer an alternative for affordable and environment-friendly inter-city bus travel. Sudhakar Reddy Chirra, Founder & CEO of, FreshBus, said, “We will offer a more environment-friendly and affordable alternative to existing inter-city public transport, which is currently dominated by fossil-fuel buses.”