Tata Power wins Maharashtra’s 250 MW solar auction with bid of INR 2.51/kWh

Tata Power today announced that its arm TP Saurya Limited had secured a 250 MW grid-connected solar project at the Dondaicha Solar Park in the Indian State of Maharashtra. The developer bagged the total capacity auctioned by Maharashtra State Power Generation Company Limited (Mahagenco) by quoting a tariff of INR 2.51 (U$0.033) per kWh.

The auction saw state-run SJVN and NTPC Renewable Energy also participate with bids of INR 2.53 ($0.034) and INR 2.82 ($0.038), respectively.

In January this year, Mahagenco had invited bids from solar power developers for setting up 250 MW of grid-connected solar projects at the Dondaicha Solar Park in Dhule. The ceiling price for the procurement exercise had been set at INR 2.83/kWh ($0.038/kWh), valid for 25 years.

The project, spread over a 499.27 hectare area, must be commissioned within 15 months from the power purchase agreement (PPA) date. It must also achieve financial closure within nine months from the PPA.

The project will be divided into three blocks of 50 MW, 75 MW, and 125 MW.

As per the tender document, “For developing solar projects and solar park facilities for 250 MW solar park, Mahagenco has identified 504.71 hectare land, out of which 5.44 ha is already handed over to MSETCL for developing 220/33kV pooling substation. The remaining 499.27 ha (1233.20 acre) land will be handed over to the developer for developing 250 MW solar projects.”

In July last year, Tata Power had also emerged winner of a 225 MW hybrid renewable power project. The project was awarded to its another wholly-owned subsidiary, Tata Power Green Energy Limited.