ACME and ReNew emerge as winners for MSEDCL’s 500 MW tender for solar

ACME solar and ReNew Solar are the announced winners for Maharashtra State Electricity Distribution Company Limited’s (MSEDCL) solar power auction for a capacity of 500 MW. This was part of MSEDCL’s Phase VI of solar tenders. ACME was allotted a capacity of 300 MW, while ReNew was allotted 200 MW for development. While the former bid a tariff of Rs 2.42 per kWh, the latter put forward a tariff of Rs 2.43 per kWh. The winning bidders will enter into a long-term power purchase agreement for a duration of 25 years with MSEDCL. Overall, the tender received an enthusiastic response, with an oversubscription of about 3.5 GW. The tender for this capacity was floated in May 2021.

MSEDCL has recently been active with floating tenders for renewable energy development. In June 2021, MSEDCL issued a tender for setting up 500 MW of distributed solar projects under component A of the PradhanMantri Kisan Urja Suraksha evamUtthanMahabhiyan (PM KUSUM) Scheme. Earlier, in May 2021, MSEDCL had also floated a tender to procure 500 MW of wind-solar hybrid power on a long-term basis from grid-connected interstate and intrastate projects.

In its previous phase of solar power (Phase V), MSEDCL’s tender for the long-term procurement of power from 500 MW of intra-state grid-connected solar power projects was undersubscribed. The tender received bids for 350 MW as against the tendered capacity of 500 MW. Avaada Energy and Tata Power bid for 250 MW and 100 MW respectively.

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