RUMSL’s Proposed 550MW Solar Power Plant’s Tariff Rate Gets Approved By Commission

With respect to the tender issued by RUMSL (Rewa Ultra Mega Solar Ltd), 50:50 joint venture company between SECI and MPUVNL (Madhya Pradesh Urja Vikas Nigam Ltd), for setting up a 550MW solar power plant in Agar district of Madhya Pradesh, on July 2021 two bidders were selected after e-reverse auction. The short listed bidder with discovered tariff rate is given below.

Accordingly, on sep 2021, RUMSL issued letter of award (LOA) to the selected bidders to develop the projects. Henceforth, PPA was signed between end power procurer and intermediary power procurer i.e. RUMSL & Indian Railway on Nov, 2021.

With due reference of the above background, RUMSL submitted petition to commission for adoption of discovered tariff rate for total 550MW allocated capacity according to “Guidelines for tariff based competitive bidding process for procurement of power from grid connected solar PV power issued by Ministry of Power (MoP), Government of India (GOI) on 03.08.2017.

After analyzing all submitted documents by petitioner, commission adopts the awarded tariff rate for the whole time period of PPA duration.

Payment Security Mechanism (PSM) :

For the purpose of payment mechanism, all end procurer need to open a letter of mandate to the Reserve Bank Of India (RBI), authorizing the RBI to debit procurer’s account and credit the account of Solar Power Developer (SPD) upto an amount equal to the applicable tariff for the energy quantum equivalent to guaranteed energy offtake for four months, which may be drawn upon by the solar power developer by way of debit claim.