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NTPC Renewable Energy and Avaada Energy were declared winners in Maharashtra State Electricity Distribution Company’s (MSEDCL) auction to procure power from 500 MW of grid-connected inter or intrastate solar projects (Phase-VIII) on a long-term basis.
NTPC Renewable Energy won 200 MW by quoting ₹2.82 (~$0.035)/kWh. Avaada Energy quoted ₹2.83 (~$0.035)/kWh for 500 MW but was awarded 300 MW under the bucket filling method.
The state distribution company (DISCOM) floated the tender in July this year to procure power from 500 MW inter or intrastate grid-connected solar power projects through long-term contracts.
The prices discovered in this auction are comparatively lower than those in the previous MSEDCL solar auction, in which the lowest bid was ₹2.90 (~$0.036)/kWh. SJVN Green Energy, Juniper Green Energy, Tata Power Renewable Energy, SAEL, and Avaada Energy were declared winners in MSEDCL’s auction to procure power from 500 MW of grid-connected intrastate solar projects (Phase-VII) on a long-term basis.
MSEDCL will enter into a power purchase agreement (PPA) with the selected bidders to purchase solar power for 25 years from the scheduled commercial operation date in the case of proposed or new solar projects. For existing projects, the tenure would be 25 years from the PPA execution date.
The successful bidder must secure grid connectivity with the Maharashtra State Electricity Transmission Company.
MSEDCL has stated that the declared capacity utilization factor (CUF) should not be less than 19% over a year. The generator should maintain generation to achieve annual CUF within + 10% and ‐ 15% of the declared value until the end of ten years from the commercial operation date. The annual CUF should be a minimum of 17% and within +10% and ‐ 20% of the declared value of the annual CUF.
Recently, MSEDCL invited bids to procure 250 MW of flexible and schedulable power from grid-connected renewable energy projects with an energy storage facility on a long-term basis with a greenshoe option.
According to Mercom’s India Solar Tender Tracker, MSEDCL has floated tenders for 19.2 GW of solar projects.
Rakesh Ranjan is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). More articles from Rakesh Ranjan.