Winners of 1.5 GW solar park auction to get ‘letter of award’ today

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Madhya Pradesh chief minister Shivraj Singh Chouhan will today hand over the ‘Letter of Award’ to the developers selected for the 1.5 GW solar park capacity in the State. The plants shall come up in three districts, Agar (550 MW), Neemuch (500 MW), and Shajapur (450 MW). 

Winning developers include Avaada Power, Beampow Energy (an arm of O2 Power), Talettutayi Solar Project (an arm of Solar Arise India Projects), TP Saurya (Tata Power venture), NTPC Renewable Energy, and Saudi Arabia’s Al Jomaih Energy & Water Company. As many as 15 companies of national and international level took part in the reverse bidding.

The 1.5GW Agar-Shajapur-Neemuch Solar Park auction yielded record-low solar tariffs in the country at a time when the ALMM listing requirement for module manufacturers is in place and the basic customs duty on cell and module imports is set from April next year. 

The establishment of these projects by Rewa Ultra Mega Solar Limited (RUMSL) will draw private investment of about INR 5,250 crore in Madhya Pradesh. Not only this, the State Discom company will save about Rs 7,600 crore in 25 years. The state government has allotted the land for the projects, and the projects are scheduled to start electricity production by March 2023.

The 500 MW Neemuch auction by RUMSL landed a pathbreaking low tariff of INR 2.14/kWh. TP-Saurya won 170 MW and 160 MW capacities at INR 2.14 and INR 2.149, respectively. Aljomaih Energy & Water Company won 170 MW at INR 2.15.

Before this, the 450 MW Shajapur Solar Park auction saw NTPC Renewable Energy Limited offering the least tariff of INR 2.35 for 105 MW capacity and INR 2.33 for another 220 MW. Talettutayi Solar Projects won 125 MW at INR 2.339.

The 550 MW Agar Solar Park auction resulted in a similar remarkable success, with Avaada Energy offering the lowest tariff of INR 2.459 for 200 MW. Beempow Energy secured 350 MW at INR 2.444.

 

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