Power Purchase Agreements (PPAs) for wind projects aggregating 1,049.9 MW were signed between PTC India, a power trading solution provider, and developers who won bids to develop projects in the first ever wind auction conducted by the Solar Energy Corporation of India (SECI).
PPAs were signed between PTC India and Mytrah for 250 MW, Green Infra for 249.9 MW, Inox Wind for 250 MW, Ostro Energy for 250 MW, and Adani Green Energy for 50 MW. As part of the agreement, DISCOMs of Uttar Pradesh will buy 449.9 MW, Bihar will buy 200 MW, Jharkhand will buy 200 MW, Delhi will buy 100 MW, Assam will buy 50 MW, and Odisha will buy 50 MW of wind power to meet their non-solar RPO. The PPAs were signed in the presence of the Minister for Power, Piyush Goyal.
While addressing the gathering, Mr. Goyal said, “Prices determined are very fair and transparent – they reflect a fair tariff for consumers and fair profit for developers. The PTC did a very commendable job in tying up the PPAs.”
Mr. Goyal further added, “The transmission is being developed for a greener future and we should relook into the system of separate renewable purchase obligations (RPOs) (solar and non-solar). If a state conducive to wind wants to have 100 percent wind projects as part of its RPO it should be allowed and the same for solar. In this manner, no state will be burdened with a costly technology and consumers will get power at competitive tariffs.”
The Minister for Power also added, “The Ministry is doing everything necessary to remove uncertainty regarding PPAs, and an example is this auction where PPAs have been signed way ahead of project completion.”
PTC India previously signed memorandum of agreements with DISCOMs (distribution companies) in Uttar Pradesh, Bihar, Jharkhand, Delhi, Odisha, and Assam for the purchase of power from these projects.
In November 2016, that SECI tendered the first 1,000 MW of wind at the behest of MNRE. According to Mercom’s India Wind Project Tracker, Mytrah, Green Infra, Inox Wind and Ostro Energy each won 250 MW projects quoting Rs.3.46 (~$0.051)/unit, and Adani Green Energy won 50 MW project quoting Rs.3.46 (~$0.051)/unit.
Mercom recently reported that upon the success of the first wind tender in India, the SECI tendered 1,000 MW of Interstate Transmission System (ISTS)-connected wind power projects under Tranche-II.
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.