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MSEDCL to sign PPAs for another 1000 MW cheap solar power: Report

Maharashtra State Electricity Distribution Co Ltd (MSEDCL) is reportedly gearing up to sign power purchase agreements (PPAs) for another 1,000MW cheap solar power. Last year MSEDCL signed similar PPAs for 1,000MW solar power at the rate of Rs 2.71 and Rs 2.72 per unit.

According to ET, MSEDL has received bids for this quantum at Rs 2.74 and Rs 2.75 per unit. This purchase will prevent increase in power tariff in the coming years.

An MSEDCL spokesperson speaking to the publication said the discom had floated tender for buying 1,000MW solar power recently. He added “Seven companies offered 1,900MW at rates ranging from Rs 2.85 to Rs 2.90 per unit. Through reverse auction, we were able to secure 1,000MW for Rs 2.74 and Rs 2.75 per unit.”

Successful bidders for 1000MW solar power are Shiv Solar 50MW (Rs 2.74 per unit), ACME Solar Holdings 300MW (Rs 2.74), Renew Solar Power 300MW (Rs 2.75) and Avaada Energy 350MW (Rs 2.75).

The publication notes that currently MSEDCL it is buying 1,000MW solar power but within two years this figure will reach 7,000MW.

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