JREDA manages to renegotiate tariffs with solar project winners

Solar developers which won projects under a 1,200 MW auction conducted by the Jharkhand Renewable Energy Development Agency (JREDA) have agreed to set up plants at a renegotiated tariff of Rs 4.95 per kWh for projects greater than 25 MW of capacity and Rs 5.16 per kWh for those under 25 MW. Earlier, the winning bids ranged from Rs 5.08 per kWh to Rs 5.48 per kWh for projects of over 25 MW capacity and Rs 5.29 per kWh to Rs 7.95 per kWh for those below 25 MW. The tariff renegotiation has taken place on the condition of reduced solar plant capacity for project development. To this end, ReNew Power, which had won 522 MW, will now limit its projects to 392 MW; Suzlon with 175 MW will install 130 MW; OPG Power Generation had 124 MW and will build 100 MW; Adani Green Energy, which got 50 MW, will develop 40 MW. All developers have agreed to a tariff of Rs 4.95 per kWh. Only Madhav Infra with 15 MW and Karvy Solar with 7.5 MW will be paid Rs 5.16 per kWh.