TANGEDCO to Sign PPAs for 1,500 MW Solar at Rs.3.47 (~$0.054)/kWh
July 12, 2017
The Tamil Nadu Generation and Distribution Corporation (TANGEDCO) is set to sign power purchase agreements (PPAs) with successful bidders in the recently conducted 1,500 MW solar auction at a rate of Rs.3.47 (~$0.054)/kWh.
A TANGEDCO official stated, “All the bidders are willing to sign the PPA at Rs.3.47 (~$0.054)/kWh, the lowest price quoted in the 1,500 MW tender.” After being asked about the expected date of PPA signing, the TANGEDCO official said, “We are awaiting TNERC’s approval. Once the TNERC gives a go ahead, the PPAs will be signed immediately.”
The official further stated, “In the auction not all bidders have been awarded the desired capacities.”
Solitaire BTN Solar Private Limited had bid for 150 MW, but was awarded 100 MW; Rays Power Infra bid for 200 MW, but was awarded 100 MW, and NLC India had bid for the entire 1,500 MW, but was awarded 709 MW, added the TANGEDCO official.
According to Mercom’s India Solar Project Tracker, Tamil Nadu has installed capacity of ~1.6 GW of solar and approximately 800 MW are under various stages of development.
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.