Higher land and borrowing costs have kept solar power tariff above Rs 3 per unit in the 500 MW capacity auction conducted by Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA), a source said. The Rs 3.17 per unit tariff is higher than lowest ever tariff of Rs 2.44 per unit discovered in solar energy project auctions in the country.
Recently, in September, bidders quoted Rs 2.44 per unit for 500 MW solar capacities auctioned by Gujarat Urja Vikas Nigam. Earlier, in June Rs 2.70 per unit was quoted in an auction conducted by the Solar Energy Corporation of India (SECI) for 750 MW Solar PV earlier. Solar tariff had touched an all-time low of Rs 2.44 per unit last year in May.
The source said the UPNEDA conducted the auction for 500 MW capacities, allowing bidders to quote multiple bids for different packages and the tariff remained higher at Rs 3.17 per unit due to expensive land prices in Uttar Pradesh. The developers will install this solar capacities across the state. The UPNEDA concluded the auction late in the evening on Tuesday.
Earlier, the UPNEDA had cancelled the auction for 1,000 MW solar energy capacities for which auction was conducted in July this year. The lowest tariff of Rs 3.48 per unit was quoted in the auction. The source said the lowest tariff of Rs 3.17 per unit was quoted by Maheshwari Mining & Energy Pvt Ltd and NTPC Ltd (RE) for 20 MW and 140 MW respectively.
The Maheshwari Mining & Energy Pvt Ltd also quoted Rs 3.19 per unit for another 20 MW while the same rate was given by Mahoba Solar (UP) Private Ltd for 50 GW. Sukhbir Agro Energy Ltd quoted Rs 3.20 per unit for 50 MW. Talettutayi Solar Projects Five Private Ltd, NTPC Ltd and Eden Renewable Jasmin Private Ltd quoted Rs 3.21 for 50 MW, 20 MW and 50 MW, respectively.
The Mahoba Solar (UP) Private Ltd quoted Rs 3.22 per unit for 50 MW. Avaada Group firm Giriraj Renwables Private Ltd has quoted Rs 3.23 per unit for two package of 100 MW each but got only 50 MW in the auction. The source said that the bench mark tariff for this auction was kept slightly higher at Rs 3.25 per unit by UPNEDA to attract investor in the solar energy projects in the state.
Generally, the benchmark tariff is kept below Rs 3 per unit in by the nodal agencies for conducting auctions for solar energy project across the country. The source said the 500 MW solar energy capacities for which auction was concluded on Tuesday was out of the cancelled 1GW capacities and the UPNEDA is likely to come out with tender of another 500 GW capacities soon.
After establishing Patanjali Ayurved as a leader in the FMCG space, Baba Ramdev wishes to spend Rs 100,000 crore on charity work. Speaking at a conference organised by FICCI Ladies Organisation in Delhi, Yoga Guru Baba Ramdev said that he wishes to spend rupees one lakh crore in the sectors related to health, education, research and development, agriculture and environment.
Patanjali Ayurved is now putting its focus on the agriculture and food processing sector, PTI reported citing Baba Ramdev. The FMCG company wants to bring out more products from the farm and food processing sector, he said. In addition, Patanjali wants to work in the solar energy sector, he said.
Patanjali wants to encourage organic farming and produce various products based on the same, he added. Meanwhile, last month, the FMCG company entered the cow milk segment when it launched cow milk and milk-based dairy products at much cheaper rates than the current market leaders.
Patanjali’s latest plan
Talking about opening up of new stores, he said Patanjali wants to open at least 100 more stores before March next year. The homegrown company registered a turnover of Rs 10,561 crore, clocking 111 percent growth in the fiscal year 2016-17. “Rs 12,000 crore is a decent amount and we would grow forward from here. We are aiming to make Patanjali as one of the leading FMCG company globally,” PTI reported Ramdev as saying.
Patanjali won’t go public
Speaking further, Ramdev said that neither he wants to go for foreign equity nor listing on any stock exchange as Patanjali is a charitable firm. “Patanjali will not allow foreign equity or go in for a public issue,” he said.
India may miss the solar and wind energy auction target in the current fiscal, mainly due to...
Baba Ramdev-promoted Patanjali Ayurved is now focusing on the agriculture and food processing sector as it looks to bring out several products from the segment in the coming future. The company, which is working with farmers on the ground, is encouraging them to go for organic farming among them. “Now we are focusing more on agriculture and solar energy sector.
The agriculture has a wide scope and Patanjali would work in several directions in the sector,” Baba Ramdev told PTI. He further added: “We would encourage organic farming and we are going to bring many products based on it. We are also working on food processing and we will make our efforts in this.” Patanjali Ayurved last month entered into the cow milk segment by launching cow milk and milk-based dairy products and also has plans to launch its apparel brand ‘Paridhan’.
“We are trying to open at least 100 stores before March 2019,” Ramdev said here on the sideline of an event organised by FICCI Ladies Organisation, the women business wing of the trade body. On being asked about Patanjali’s bid to acquire the debt-ridden firm Ruchi Soya, where it was competing with Adani group firm Adani Wilmar, Ramdev declined to comment saying that matter is now subjudice. “That is now pending with the court (NCLT Mumbai),” he added Adani Wilmar and Patanjali group have been engaged in a long-drawn battle to take over Ruchi Soya.
While Adani Wilmar emerged as the highest bidder with a Rs 6,000 crore offer, Patanjali group came second with a Rs 5,700 crore bid. Patanjali, which had recorded multi-fold growth in recent years, witnessed a marginal growth only last fiscal hit by the implementation of the GST regime finishing around Rs 12,000 crore.
In the 2016-17 financial year, Patanjali clocked a turnover of Rs 10,561 crore, registering a 111 per cent growth.
Baba Ramdev-promoted Patanjali Ayurved is now focusing on the agriculture and food processing...