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HERC Approves Purchase of 150 MW of Renewable Energy from SECI

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growatt01-08-2022

In a recent order, the Haryana Electricity Regulatory Commission (HERC) authorised Haryana Power Purchase Center (HPPC), to purchase 150 MW of renewable energy from Solar Energy Corporation of India (SECI).

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This will guarantee peak power supply. The parties did not have a power purchase agreement (PPA). However, the HPCC was authorized to purchase 150 MW of renewable energy from the SECI with a guaranteed peak power supply.

HPPC filed a petition to SECI asking for authorisation for a 25-year procurement 150 MW of renewable energy at a levelized pricing of Rs 3.96/kWh with an off-peak rate of Rs 2.88/kWh and peak tariff of Rs 6.85/kWh with a trading margin Rs 0.07/kWh.

The Commission stated that the power sale agreement will enforce the liquidated damages clause regarding non-delivery, restricted supply in peak hours and non-commissioning the project within the stipulated 18 months.

Earlier in the month of June, HERC had approved HPPC’s petition for approval of source as well as approval of the draft Power Supply Agreement (PSA) for procurement of 800 MW ISTS connected Wind Solar Hybrid Power under Tranche IV scheme of Solar Energy Corporation of India Limited (SECI) at a levelized tariff of Rs. 2.34/kWh for 700 MW and Rs. 2.35/kWh for 100 MW plus a trading margin of Rs. 0.07/kWh for a period of 25 years.

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