IPGCL Secures Lowest Bid of ₹3.09/kWh for RESCO Bids in Residential Rooftop Solar
SolarSmith Energy and Broil Solar Energy quoted ₹3.09/kWh and ₹3.41/kWh for Parts A and B respectively
The Indraprastha Power Generation Company Limited (IPGCL) has announced the tariff quoted by the lowest bidders (L1) for its rooftop solar projects under the RESCO model (Parts A and B).
IPGCL received an L1 bid of ₹3.09 (~$0.04)/kWh from SolarSmith Energy Private Limited for projects under the RESCO Part-A category. For Part-B, it received an L1 bid of ₹3.41 (~$0.05)/kWh from Broil Solar Energy Private Limited.
Projects under Part-A ranged between 25 kW and 100 kW, while projects under Part-B ranged between 100 kW and 500 kW in capacity.
IPGCL said that all qualified bidders other than the L1 bidder in the bracket of (L1+25% of L1) or (L1+30% of L1, if the empaneled agencies are less than five) are expected to match the L1 bid and give their consent within three working days.
The RESCO or Renewable Energy Service Company model is a system where the developer owns the solar project, and the consumer only has to pay for the energy generated.
In May, IPGCL announced the L1 bidders for projects under Parts A and E of the capital expenditure (CAPEX) category projects. Amplus KN One Power Private Limited emerged as the L1 bidder for both parts with the quoted project cost of ₹37,000 (~$492.3)/kW for Part A and ₹39,200 (~$521.6)/kW for Part E.
In February, IPGCL floated a tender for the empanelment of firms for the supply, installation, and commissioning of 30 MW of rooftop solar systems. These grid-connected rooftop solar systems, ranging between 1 kW-10 kW and 10 kW-500 kW, were to be set up at various locations in Delhi. Of the 30 MW capacity, 10 MW was slated for each of Delhi’s three distribution companies.
Under this project, central financial assistance (CFA) of up to 40% will be given for systems up to 3 kW, while for systems above 3 kW capacity and up to 10 kW, a CFA of 40% would be applicable only for the first 3 kW capacity and for others, it has been set at 20%. For group housing societies and residential welfare associations, the CFA will be limited to 20% for the installation of a rooftop system for the supply of power to common facilities.
Previously, Mercom reported that IPGCL announced a 98-day extension for the completion of its 21.5 MW of rooftop solar projects to be developed on government buildings in Delhi.
Image credit: Suntech Power
Nithin Thomas is a staff reporter at Mercom India. Previously with Reuters News, he has covered oil, metals and agricultural commodity markets across global markets. He has also covered refinery and pipeline explosions, oil and gas leaks, Atlantic region hurricane developments, and other natural disasters. Nithin holds a Masters Degree in Applied Economics from Christ University, Bangalore and a Bachelor’s Degree in Commerce from Loyola College, Chennai. More articles from Nithin.