NTPC and Avaada Energy Emerge Winners at MSEDCL 500 MW (Phase VIII) Solar Auction

The Maharashtra State Electricity Distribution Company (MSEDCL), an auction to buy power from 500 MW grid-connected intrastate or interstate solar projects (Phase VIII), has ended. This auction saw the announcement of the winners: NTPC Renewable Energy and Avaada Energy.

NTPC secured capacities of 200 MW at Rs.2.82 ($0.035/kWh), Avaada Energy, which was quoted at Rs.2.83 ($0.0355)/kWh for 500 MW, but was allotted 300 MW using the bucket filling process.

In order to fulfill the renewable power purchase obligation (RPO) and to meet the future power requirements, MSEDCL had issued an RfS Document For Purchase Of Power On Long Term Basis Through Competitive Bidding Process (Followed By Reverse E-Auction) From 500 MW Grid Connected Solar Photovoltaic Power Projects.

The maximum bidding capacity for a single bidder was 500 MW, subject to satisfying the technical and financial criteria.

MSEDCL will now enter into an agreement with the winners for the purchase of solar power for 25 year.

This auction has prices that are lower than the MSEDCL previous auction. MSEDCL’s auction to buy power from 500 MW of intrastate grid-connected solar projects (Phase VII), had a winning price of Rs.2.90/kWh. SJVN had secured capacities of 200 MW at Rs. 2.90/kWh, Juniper won 75 MW at Rs 2.90/kWh. Sukhbir Agro and Tata Power were allotted 150 MW and 50 MW respectively. Each was quoted at Rs 2.91/kWh. Avaada, which was quoted at Rs 2.91/kWh for 300 MW, was allotted 25 MW using the bucket filling process.

Recently MSEDCL has invited bids for Procurement of 250 MW Flexible and Schedulable RE Power with Storage Facility. Last date for submission of Technical & Financial bids is 12.09.2022 till 15.00 Hrs.