Tata Power Renewable Energy Wins Auction for 255 MW Wind Solar Power Plant

Tata Power Delhi Distribution Limited’s (TPDDL), auction for 255 MW of wind-solar hybrid energy projects, was won by Tata Power Renewable Energy Limited (TPREL).

The company quoted Rs 3 per kWh. Avaada Energy was the second-lowest quoted tariff at Rs 3.01/kWh. TPDDL will enter into an agreement for 25 years with the winning bidder.

In Septemeber this year TPDDL had invited proposals for setting up of Wind- Solar Hybrid Power Projects in India, on “Build Own Operate” basis for an aggregate capacity of 255 MW with a greenshoe option of additional 255 MW of WinsSolar Hybrid Power Projects. In the tender, TPDDL has specified the capacity break-up as 85 MW solar and 170 MW wind power.

Existing projects having untied capacity was also allowed to participate in the bid process in line with the conditions specified in the RfS & PPA. However, in such case the bidder had to ensure that the minimum remaining useful life of the project is between 20 years to 25 years on the date of submission of bid. Signing of PPA for existing projects was to be done accordingly based on the terms, conditions and provisions of the RfS.

The winning tariff is 28% more than the lowest price of Rs 2.34 at the Tranche-IV auction last August. Recent auctions have seen a significant rise in tariffs due to the impact of BCD and ALMM regulation on projects.