The Central Electricity Regulatory Commission (CERC) has approved a tariff of Rs 2.44 per kWh adopted by the Solar Energy Corporation of India (SECI) to sell 600 MW of solar power allocated to ACME Solar to distribution licensees in Haryana and Bihar.
In February 2018, SECI had issued the request for selection (RfS) to set up 3,000 MW of ISTS-connected solar power projects (Tranche II). The reverse auction for the eleven technically qualified bidders was conducted on July 13, 2018, and ACME Solar Holdings Limited was declared the successful bidder with a total capacity of 600 MW at the tariff of Rs 2.44 per kWh. The letters of award were issued to special purpose vehicles (SPVs), ACME Deoghar Power Private Limited, and ACME ACME Dhaulpur Private Limited for 300 MW each. SECI, in its submission, said that it had agreed to sell the entire 600 MW of solar power to the distribution licensees at the rate of Rs 2.44 per kWh in addition to the trading margin of Rs 0.07 per kWh.
Based on the request of the distribution licensees, 400 MW capacity was allocated to Haryana Power Purchase Center and 150 MW of solar power was allocated to North Bihar Power Distribution Company Limited and South Bihar Power Distribution Company Limited. The remaining 50 MWs were allocated to the electricity department of Puducherry. SECI entered the power sale agreements (PSA) with Haryana and Bihar. The PSA with the electricity department of the government of Puducherry is yet to be executed. Regarding the trading margin, the commission asked the contracting parties to agree on it mutually. Further, the commission asked SECI to inform the Commission before initiating the bidding process in the future.