Week in India: Haryana set to Acquire 250 MW Solar Power, 600 MW Solar Power to be sold to Bihar and Punjab by NTPC, Tariff of ₹2.50 for 680 MW approved by Rajasthan Commission and More

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Haryana set to Acquire 250 MW Solar Power Via SECI at ₹2.54/kWh

The Haryana Electricity Regulatory Commission (HERC) approved the request to acquire 250 MW of solar power from the Solar Energy Corporation of India (SECI). The Haryana Power Purchase Center (HPPC) had presented the request for acquiring 250 MW of solar power through the 1,200 MW (ISTS Tranche IV) tender to satisfy its RPO targets. The agreement will be legitimate for a period of 25 years. HPPC is a joint forum made by the state’s distribution organizations in order to undertake different activities which also includes the signing of agreements on behalf of Haryana DISCOMs. The tariff set for the acquisition was ₹2.54 (~$0.035)/kWh fixed for a period of 25 years.

Tariff of  ₹2.50/kWh for 680 MW Solar Projects gets approved by Rajasthan Commission

The Rajasthan Electricity Regulatory Commission (RERC) has raised an order approving the tariff rate for 680 MW of solar projects which was issued by the Solar Energy Corporation of India (SECI). An year ago in July, Mercom reported that the Solar Energy Corporation of India’s 750 MW (Tranche-II) sell off for grid connected solar projects in Rajasthan faced the lowest tariff of ₹2.50 (~$0.0359)/kWh. Of the tendered limit, just 680 MW of solar project was granted. SECI had tendered the limit in March 2019, and accordingly, bids totaling 1,100 MW were submitted against a tendered capacity of 750 MW, yet just 850 MW of techno-commercial bids were qualified for the last round of the bidding procedure.

600 MW Solar Power to be sold to Bihar and Punjab by NTPC at a Tariff of  ₹2.60/kWh

The Central Electricity Regulatory Commission (CERC) has affirmed a tariff of ₹2.60 (~$0.036)/kWh adopted by the National Thermal Power Corporation (NTPC) to sell 600 MW of solar power alloted to SB Energy Six Private Limited to distribution licensees in Bihar and Punjab. The Commission likewise asked the contracting parties to agree on the trading margin for long-term transactions commonly. Further, the Commission ordered NTPC to intimate the Commission before starting the bidding process in the future, which it had neglected to do in this case.

Sunseap known to raise $80 Million in Support of Solar Projects Across Asia

Sunseap Group, a renewable solutions provider based in Singapore has raised an amount of S$100 from Banpu, a publicly listed company on the Stock Exchange of Thailand in its fourth round of raising funds. Banpu is an integrated energy solutions organization with 3 core groups of business which comprises of energy resources, energy technology and energy generation and it has expanded into 10 nations in the APAC region. It was additionally chosen as a member of the Dow Jones Sustainability Indices(DJSI) and it was graded an “A” under the MSCI ESG rating. Sunseap is known to be the largest clean energy solutions provider in Singapore with just about 300 MW of solar energy projects contracted, of which 168 MW have been finished on 1,500 buildings and it is listed at the Stock Exchange of Thailand.

India released a Pre-Bid Query Format for 14 MW/42 MW Solar+Storage Projects

The Solar Energy Corporation of India (SECI) had raised a Request for Selection (RfS) on the 31st of January for setting up of 14 MW solar power plants with 42 MWh Battery Energy Storage Systems in Ladakh. Under the Prime Minister Development Package (PMDP), The projects will be raised at Leh and Kargil as 7 MW/21 MWh projects each. According to the Pre-Bid meeting held on 17.02.2020  a Pre-Bid Query Format will be issued which will be in order to address the queries by respective bidders. The format of the same is made available in the SECI’s official website.

CLP India to buy Mahindra Renewables Three Subsidiaries for ₹3.4 Billion

Mahindra and Mahindra Limited reported that its subsidiary, Mahindra Renewables Private Limited (MRPL), agreed to sell all its stake in three subsidiaries to CLP India Private Limited (CLP) for ~₹3.40 billion ($47.35 million). These three subsidiaries incorporate Cleansolar Renewable Energy Private Limited (CREPL), Divine Solren Private Limited (DSPL), and Neo Solren Private Limited (NSPL). The date of completion of the deal is expected to be May 31, 2020. As indicated by the organization, the share purchase agreement offered to sell 9,623,000 equity shares of ₹10 (~$0.14) each at a cost of ₹113.11 (~$1.57)/share totaling ₹1.088 billion (~$15.16 million). The agreement took place on February 21, 2020.

Details released by NTPC for 1.2 GW Solar Tender, Ceiling Tariff set at ₹2.78/kWh

The National Thermal Power Corporation (NTPC) has raised a point by point request for selection (RfS) for 1.2 GW of Interstate Transmission System (ISTS) connected solar projects across the country. The ceiling tariff for the tender has been set at ₹2.78 (~$0.038)/kWh. Bidders who are interested are expected to pay an earnest money deposit (EMD) of ₹400,000 (~$5,588)/MW undertaken. The last date for the submission of bids is March 19, 2020. A pre-bid meeting is planned on March 6, 2020.

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