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Sprng Ojas, Tata Power Renewable Energy, ReNew Solar Power and TEQ Green Power IX (O2 Power) were named winners in Rewa Ultra Mega Solar Limited (RUMSL), auction for the development of 750 MW grid-connected wind/solar hybrid power plants in Madhya Pradesh.
Sprng Ojas won 160 MW, Tata Power Renewable Energy got 200 MW and ReNew Solar Power won 300 MW all quoting tariff of Rs.3.03/kWh. O2 Power had bid for 150 MW, but was awarded 90 MW at Rs.3.04/kWh.
In the month of April this year RUMSL, a SECI and Madhya Pradesh Vikas Nigam Limited (MPUVN) joint venture, has aired a request for proposal (RfP) on behalf of Madhya Pradesh Power Management Company (MPPMCL) for the development of 750 MW grid-connected wind-solar hybrid power projects in Madhya Pradesh.
As per the tender the least capacity for which the bidder can bid was 15 MW, and the highest capacity was 750 MW.
Now the winning developers must additionally pay a payment security fund of Rs 500,000/MW/allocated capacity within 3 months of the anticipated commercial operation day.
Also they must be able to generate internal resources in the form of Profit Before Depreciation, Interest, and Taxes (PBDIT) for a minimum of 1.23 million/MW of quoted capacity in the fiscal year ending March 31, 2021.