TP Saurya Ltd, a wholly-owned subsidiary of Tata Power, has won the entire 250 mw of solar capacity put to auction by state utility Maharashtra State Power Generation Company Ltd (Mahagenco).
TP Saurya quoted Rs.2.51 per kwh, 11.3 per cent lower than the ceiling tariff of Rs.2.83 per kwh stipulated in the bidding documents.
The 250-mw of grid-connected solar power capacity is to come up at the Dondaicha Solar Park in Maharashtra.
TP Saurya won the auction quoting a tariff of Rs.2.51 per kwh. It is reliably learnt that NTPC Renewable Energy and SJVN Ltd also participated in the tender submitting bids of Rs.2.82 per kwh and Rs.2.53 per kwh, respectively.
As of December 2020, Maharashtra had 1.8 GW of large-scale solar projects in operation, while around 1.5 GW of projects were under different stages of development, according to Mercom.
The auction
In January this year, Mahagenco had invited bids from solar power developers to set up 250 mw of grid-tied solar power capacity at the Dondaicha Solar Park located in Dhule district of Maharashtra. Bids closed for submission on February 15, 2021.
The tender had mandated a ceiling tariff of Rs.2.83 per kwh, valid for a power purchase tenure of 25 years.
The 250-mw solar power project is expected to cost Rs.875 crore and is stipulated to be commissioned within 15 months from the date of signing of PPA. Besides, the project must attain financial closure within nine months from the PPA signing date.
The 250-mw project will be divided into three parts — Block I (75 mw), Block-II (125 mw), and Block III (50 mw).
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