SolarArise, SJVN Green Energy, and Tata Power Renewables Win MSEDCL’s 500 MW Solar Auction
Maharashtra distribution company discovered the lowest tariff of ₹2.90/kWh for 100 MW
SolarArise, SJVN Green Energy, and Tata Power Renewable Energy (TPREL) were declared the winners of the auction conducted by the Maharashtra State Electricity Distribution Company (MSEDCL) to procure 500 MW of power on a long-term basis from Phase IX of grid-connected intrastate solar projects.
SolarArise quoted ₹2.90 (~$0.035)/kWh and won the capacity of 100 MW followed by SJVN Green Energy which won 200 MW by quoting a price of ₹2.95 (~$0.036)/kWh.
Although Tata Power Renewable Energy bid 300 MW, it was allocated 200 MW after quoting ₹2.97 (~$0.0364)/kWh under the bucket-filling method.
MSEDCL floated the tender in October this year to procure 500 MW of solar power on a long-term basis.
The terms of tender mandated that the successful bidders would use only commercially established and operational technologies for the above projects as mandated by MSEDCL, to minimize the technology risk and ensure timely commissioning.
MSEDCL would now sign a power purchase agreement (PPA) with SolarArise, SJVN Green Energy, and TPREL for 25 years from the scheduled date of commercial operation.
The three winners will ensure that the solar modules installed in the project are warranted for peak output wattage, which should not be less than 90% at the end of 10 years and 80% at the end of 25 years from the date of commercial operation of the project.
The winners of the auction will be responsible for maintaining the declared capacity utilization factor (CUF) which should not be less than 19% over a year.
The developers must also maintain generation to achieve yearly CUF within +10% and -15% of the declared value until the end of 10 years from the date of commercial operation.
In September, NTPC Renewable Energy Limited and Avaada Energy were declared winners in MSEDCL’s auction to procure 500 MW of grid-connected inter or intrastate solar projects (Phase-VIII) on a long-term basis. NTPC Renewable Energy quoted ₹2.82 (~$0.035)/kWh and won 200 MW while Avaada quoted ₹2.83 (~$0.035)/ kWh for 500 MW but was awarded 300 MW under the bucket filling method.