MERC- The Maharashtra Electricity Regulatory Commission has approved Brihanmumbai Electric Supply and Transport Undertaking (BEST) to acquire 400 MW wind-solar hybrid power from Solar Energy Corporation of India (SECI).
BEST had recently in a petition asked MERC’s approval to sign the Power Sale Agreement (PSA) for 400 MW of wind-solar hybrid power from SECI at a tariff of ₹2.41 (~$0.0326)/kWh discovered through competitive bidding plus SECI’s trading margin of ₹0.07 (~$0.0094)/kWh. The period for the agreement was 25 years.
This power was supposed to be acquired from SECI’s 1,110 MW interstate transmission (ISTS) connected wind-solar hybrid power projects (Tranche-III). Initially, SECI had approached BEST for 600 MW of wind-solar hybrid power at ₹2.41 (0.0326)/kWh plus SECI’s trading margin of ₹0.07(~$0.0094)/kWh. But, BEST agreed to the signing of PSA for 400 MW. This purchased power will be utilised for meeting BEST’s solar and non-solar renewable purchase obligations (RPO).
The power supply from the proposed hybrid projects is expected to start from FY 2023-24. The renewable energy requirement for FY 2023-24 is 968 MU, while the proposed hybrid project would be supplying 1,371 MU which is more than the power required to meet the RPO.
MERC considered the rate of ₹2.48 (~$0.033)/kWh, which is lower than the variable cost of the power sourced from thermal stations and lower than the short-term power procured from other sources. The extra power procured would help BEST to lower its procurement cost and meet its future RPO targets.