UPNEDA auctions 500 MW of solar capacity in Uttar Pradesh

The Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) has announced the auction results for the development of 500 MW of solar projects in the state. In this auction, the lowest tariff (L1) of Rs 3.17 per kWh was quoted by Maheshwari Mining and Energy and NTPC Limited for developing 20 MW and 140 MW of capacity respectively. Maheshwari Mining and Energy and NTPC have won an additional 20 MW each at a tariff of Rs 3.19 per kWh and Rs 3.21 per kWh respectively. Adani’s Mahoba Solar UP has won two bids of 50 MW each at tariffs of Rs 3.19 per kWh and Rs 3.22 per kWh. Projects worth 50 MW each were also won by Sukhbir Agro, Talettutayi Solar Projects (SolarArise) and EDEN Renewable Jasmin, at tariffs of Rs 3.20 per kWh, Rs 3.21 per kWh and Rs 3.21 per kWh, respectively. Giriraj Renewables, which had submitted bids for three 100 MW blocks, has won only 50 MW of capacity by quoting Rs 3.23 per kWh. According to UPNEDA, the tariff quoted in this auction will be reduced by Re 0.15 per kWh for developers that fail to produce a receipt of payment of safeguard duty at the time of project commissioning.

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