The Punjab State Electricity Regulatory Commission (PSERC) has approved tariffs for offtake of 250 MW of solar energy from two projects. The commission approved the procurement of 100 MW of solar power from ReNew Dinkar Jyoti for Rs 2.33 per kWh and 150 MW of solar power from Adani Renewable Energy Holding Fifteen for Rs 2.34 per kWh. Punjab State Electricity Corporation Limited (PSPCL) had filed a petition to have a tariff for 250 MW of solar power decided through a competitive bidding process adopted, as well as the procurement of power.
In May 2021, PSPCL invited bids to procure 250 MW of solar power from projects across India. The tender’s ceiling tariff was set at Rs 2.50 per kWh. ReNew Dinkar Jyoti was given 100 MW at Rs 2.33 per kWh in the e-reverse auction, and Adani Renewable Energy Holding Fifteen was awarded 150 MW at Rs 2.34 per kWh.
In February 2021, PSERC approved the procurement of 500 MW of solar-wind hybrid projects from the SECI. As per the power sale agreement, the power will be sold at a tariff of Rs 2.69 per kWh with a trading margin of Rs 0.02 per kWh. This announcement follows a petition filed by the Punjab State Power Corporation Limited (PSPCL) to amend the power sale agreement by reducing the trading margin from Rs 0.07 per kWh to Rs 0.02 per kWh. The tariff was approved by the Central Electricity Regulatory Commission based on competitive bidding.