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).

NEWS ----------SEPTEMBER 2018 Issue
Cygni Energy raises $6.4 Mn to power growth & expansion

Hyderabad-based Cygni Energy Pvt. Ltd., an innovative Solar-DC solutions start-up, has announced that it has raised funds of $6.4-mn through a combination of equity and debt. The equity funding is led by Endiya Partners, a leading early stage venture capital firm that invests in product start-ups, and the debt by IndusInd B   READ MORE...
Cosmos Solutions receives US$950-mn for new eco-friendly energy product
Cosmos Solutions Pvt. Ltd.’s patented new technology to generate more power from engines using micro controllers received a major green signal with a private equity of US$950-million from Linetrust Offshore Ltd. The Head of private equity of Linetrust ASEAN, Dr. Sailesh Lachu Hiranandani, who has spared no effort in promoting the development of renewable energy, assured Cosmos   READ MORE...
Black & Veatch bags IEDCL’s 41MW hybrid project
Black & Veatch has been selected to provide engineering expertise to IL&FS Energy Development Company Limited’s (IEDCL) 41 megawatt (MW) solar photovoltaic (PV), wind, and battery storage hybrid project in India. Core components of the project are 25 MW solar PV and 16 MW wind power generation systems, coupled to an optimised energy storage system.

Technical services for the