To raise the share of renewable power in its provide mix, Maharashtra has invited bids for 500 megawatt (MW) of solar energy. State-run Maharashtra State Electricity Distribution Company (MSEDCL) will sign a 25-year energy buy agreement (PPA) with the lowest bidder participating in the auction.
Of the 39,084 MW of installed solar capacity in the nation, Maharashtra homes 2,290 MW.
India has set a target to raise the capacity of installed renewable power generation plants to 450 GW by 2030. However, if the target is to be met, the quantity of cancellations desires to minimize. Of the 143 GW of tenders floated for constructing solar capacities, because FY17, about 78 GW have been cancelled.
The present installed renewable power generation capacity stands at 94 GW and about 34 GW is beneath different stages of implementation even though 30 GW is beneath different stages of bidding.
Of the 24 GW solar tenders floated in FY21, about 14 GW have been auctioned. The lowest solar tariff of `1.99/unit was found in FY21 for a 500 MW auction performed by Gujarat in December 2020. In November 2020, the price of `2/unit was found in the solar auction for Rajasthan.
Most developers quoting the lowest tariff in FY21 have been backed by foreign capital, who utilised the atmosphere of low interest prices globally. However, with the imposition of standard customs duty on solar gear import beginning April 2022, tariffs are anticipated to raise
Solar projects positioned anyplace in the nation are eligible to participate in the auctions to sell energy to Maharashtra. Under-building projects, which do not but have contracted purchasers, are also eligible to participate.
The solar energy will be used to fulfil the Centre-mandated renewable buy obligation (RPO) of the state, the tender document stated.
The newest tender follows the state inviting bids for 1,300 MW of solar projects to be constructed inside the state beneath the ‘Mukhyamantri Saur Krishi Vahini Yojana’, which will be especially used to provide energy for agriculture.