Shapoorji Pallonji, one of India’s leading renewable energy project developers, has won the bid to develop 50 MW of floating solar project in Uttar Pradesh.
This 50 MW project is part of the tender that was floated by the Solar Energy Corporation of India (SECI) for 150 MW (50 MW x 3) of grid connected floating solar power projects at Rihand Dam (also known as Govind Ballabh Pant Sagar Reservoir), located in Sonbhadra district of Uttar Pradesh. The projects were tendered by SECI in March 2018.
Talking to Mercom, a SECI official said, “Renew Power and Shapoorji Pallonji have bid for the 50 MW capacity for package B.”
He added, “The price discovered in the auction is ₹3.29 (~$0.046)/kWh. The auction for the remaining 100 MW capacity for package A and package C will be intimated separately.”
SECI had fixed ₹3.32 (~$0.047)/kWh as the upper tariff ceiling for this tender. The successful developers will enter 25-year power sale agreements with Uttar Pradesh Power Corporation Limited (UPPCL). In the tender, SECI had also specified that a single bidder can bid for a minimum 50 MW and a maximum 150 MW.
Recently, answering some of the questions raised by bidders during the pre-bid meeting, SECI had said that solar power developers will have to get the required transmission line constructed by Uttar Pradesh Power Transmission Corporation Limited (UPPTCL) on a depository work basis and will have to procure the final cost from the UPPTCL directly.
This floating solar project has seen multiple bid submission deadline extensions.
Talking to Mercom, a SECI official said, “We made some amendments in the main tender document. The earlier RfS has been revised due to high tariffs. The developers quoted higher tariff as UPPCL did not have a good credit rating. Now, to address this, SECI will be the intermediary procurer and UPPCL will sign a Power Sale Agreement (PPA) with SECI.
Meanwhile, recently, Mercom reported that SECI’s the 1.2 GW ISTS-connected wind-solar hybrid power projects (tranche-I) tender was undersubscribed by 150 MW.
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