PPAs Signed for 640 MW of Solar Projects Auctioned by KREDL in Karnataka
The auction had concluded in the first week of February 2018
The Power Purchase Agreements (PPAs) for grid-connected solar photovoltaic (PV) projects totaling 640 MW to be developed in various taluks of Karnataka have been signed.
The projects had been auctioned by Karnataka Renewable Energy Development Limited (KREDL). The PPAs have been signed between various distribution companies (DISCOMs) of the state and the successful bidders.
A KREDL official told Mercom, “The PPAs were executed between DISCOMs of Karnataka and project developers on March 28, 2018.”
Mercom had previously reported that the deadline for signing the PPAs for 655 MW of grid-connected projects in the state of Karnataka had been extended to March 28, 2018.
When asked when these projects are expected to be commissioned, the KREDL official said, “The PPAs have been signed between off-takers and generators, now KERC needs to provide its stamp of approval”.
The KERC approval should come in another fortnight and then the projects will have to be commissioned within 18 months, the official added.
After the auction, Grasim Industries Limited had filed a writ petition with the Karnataka High Court, stalling the further process. On February 27, 2018, the writ petition filed by Grasim was dismissed by the Karnataka High Court.
A total of 760 MW of solar PV projects had been auctioned by KREDL. When contacted for a clarification, the KREDL official told Mercom, “100 MW bids were not received, and another 100 MW was under Domestic Content Requirement (DCR) category. So that had to be cancelled keeping in mind the compliance with World Trade Organization (WTO) norms. After that, for one taluk the developer was not ready to develop at the L1 tariff, so the capacity awarded came down to 640 MW.”
Image credit: AMPL Cleantech
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.