NTPC, SolarArise emerge as winners for 450 MW solar projects in MP
In the auction, NTPC offered the lowest tariff of $2.33 ($0.0313) per kWh.
NTPC Renewables was awarded a 105 MW capacity at $2.35 ($0.0316) per kWh and a 220 MW capacity at $2.33 ($0.0313) per kWh.
Talettutayi Solar Projects Nine (SolarArise) was awarded a 125 MW capacity at 2.339 ($0.0314) per kWh.
The tender received a massive response from bidders, with 5.8 GW of capacity being oversubscribed. For the tender, a total of 15 bidders were shortlisted.
The Shajapur Solar Park in Madhya Pradesh has a total capacity of 450 MW, which is made up of solar projects with capacities of 220 MW, 125 MW, and 105 MW.
RUMSL issued a tender in 2018 for the development of 1,500 MW of grid-connected solar projects across the state's three solar parks. Due to upcoming federal and state elections, the tenders have been postponed.
In January of last year, RUMSL reissued the tender. At the Shajapur Solar Park, the first tender was for the development of 450 MW of grid-connected solar projects. The Agar Solar Park received a second tender for 550 MW of solar projects, and the Neemuch Solar Park received the third tender for 500 MW of solar projects. Following that, the tender was extended several times for bid submission deadlines.
The entire 1,500 MW capacity will be financed by the World Bank.
The winners of the RUMSL's auction for 550 MW of solar projects at the Agar Solar Park in Madhya Pradesh were recently announced as Avaada Energy and O2 Power. The first unit, Agar, has a capacity of 200 megawatts, while the second, Susner, has a capacity of 350 MW.
The Solar Energy Corporation of India and Madhya Pradesh Urja Vikas Nigam Limited have partnered to form RUMSL.
RUMSL issued a request for proposals from interested consultants for the establishment of solar parks in Madhya Pradesh in January of last year. The Indian Renewable Energy Development Agency will receive technical assistance from the International Bank for Reconstruction and Development.
Mercom recently discussed the specifics of the RUMSL tender's success. The availability of land and guaranteed offtake were the main reasons for the tender's success, among many other factors.
Also read: NTPC to set up 4.75 GW solar park in Rann of Kutch
Also read: NTPC Invites bids for 500 MW grid-connected solar projects