NTPC and Avaada bag MSEDCL’s 500 MW solar auction

NTPC Renewable Energy and Avaada Energy were declared winners in Maharashtra State Electricity Distribution Company Limited’s (MSEDCL) auction to procure power from 500 MW of grid-connected inter or intrastate solar projects (Phase-VIII) on a long-term basis. NTPC Renewable Energy secured a capacity of 200 MW by quoting a tariff of Rs 2.82 per kWh. On the other hand, Avaada Energy quoted Rs 2.83 per kWh for a capacity of 500 MW but was granted only 300 MW as per the bucket filling method.

The tender was floated in July 2022 to procure power from 500 MW inter or intrastate grid-connected solar power projects through long-term contracts. MSEDCL will be entering into a power purchase agreement (PPA) with the chosen bidders to procure the solar power for 25 years from the scheduled commercial operation date in the case of proposed or new solar projects. For existing projects, the tenure will be 25 years from the date of PPA execution. 

Recently in August 2022, MSEDCL invited bids for a long-term contract to purchase 250 MW of flexible and schedulable power from grid-connected renewable energy projects with an energy storage facility. The tender contains the facility of a greenshoe option.

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