MERC APPROVES SIGNING OF
PPAS BY MSEDCL
The Maharashtra Electricity Regulatory Commission (MERC) has, in an order dated May 27, 2019, approved the signing of power purchase agreements (PPAs) by Maharashtra State Electricity Distribution Company Limited (MSEDCL). MERC was listening to a petition filed by the MSEDCL seeking approval for adoption of tariff for long term procurement of 1,000 MW of solar power under Section 63 of the Electricity Act (EA), 2003 for meeting the solar renewable purchase obligations (RPO).
It approved the procurement of 1,000 MW of solar power for 25 years, at the rate discovered through the competitive bidding and reverse auctions.
MSEDCL had invited tenders under a competitive bidding process which had received an enthusiastic response from the developers. In the e-reverse auction that followed, Shiv Solar Private Limited and ACME Solar quoted the lowest tariff `2.74/kWh ($ 0.039) to develop 50 MW and 300 MW of solar projects respectively. Renew Power bid for 300 MW at `2.75/kWh($ 0.04) and Avaada Energy bid for 350 MW at `2.75/kWh($0.04).
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