The Uttar Pradesh Electricity Regulatory Commission (UPERC) has approved the Request for Procurement (RfP) and power purchase agreement (PPA) proposed by Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) for 500 MW Uttar Pradesh Solar Power Project. Also, UPNEDA had sought approval for a ceiling tariff of Rs 3.25 per kWh for the tender.
As per the proposal, commercial operations date will be 21 months for projects less than 250 MW capacity and 24 months for projects more than 250 MW capacity, upper tariff ceiling will be Rs 25 per kWh if safeguard duty is included and Rs 10 per kWh if safeguard duty is not included. Also, financial closure must be attained within 365 days of signing of PPA signing.
The Request for Proposal (RfP) bids for the project were earlier issued by UPNEDA in April 2018.