A hike in the maximum tariff and a deadline extension paid dividends for Maharashtra State Electricity Distribution Company Limited (MSEDCL), whose 1 GW solar tender ended up almost 100% oversubscribed.
Seven developers submitted bids for 1.9 GW of capacity, comprising 500 MW pitches from Avaada Power and Adani, 300 MW bids by ReNew Power and Acme, a 150 MW move from Tata, a 100 MW pitch by Orange Renewables and a 50 MW attempt by Aqua Pumps.
The initial tariff ceiling of Rs2.80 per unit was raised to Rs2.90 and the original bid submission deadline of January 3 was extended 19 days until Tuesday.
According to MSEDCL’s request for service document, the project commission time is within 13 months from date of execution of the PPA. However, any projects with a capacity of 250 MW and above – if developed outside a solar park – will have an additional two months. Successful bidders will have to submit documentary evidence of having secured grid connection from a central or state transmission utility or distribution company within seven months of signing the PPA.
Maharashtra has 1.1 GW of installed solar projects and 350 MW in the pipeline. It has set a target of 7.5 GW of solar power generation capacity this year.
Of 1,095 MW of rooftop solar capacity in India, Maharashtra leads the way with 145.09 MW, according to data from the Ministry of New and Renewable Energy.