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TataPower wins 250 MW tender in India with bid of $0.033/kWh

A solar plant built by TataPower.
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From pv magazine India

Tata Power’s TP Saurya Limited (TPSL) subsidiary has received a letter of intent (LoI) from Maharashtra State Power Generation Co. Ltd (MAHAGENCO) to set up a 250 MW grid-connected solar photovoltaic power plant in Maharashtra, the company announced Monday.

TPSL won the project in tariff-based competitive bidding followed by an e-reverse auction conducted by MAHAGENCO. It quoted a tariff of INR 2.51 (U$0.033) per kWh in the procurement exercise that had a ceiling tariff set at INR 2.83/kWh ($0.038/kWh), valid for 25 years.

The project is to be located at the Dondaicha Solar Park in the Dhule district of Maharashtra, with the Maharashtra State Electricity Distribution Company Limited (MSEDCL) as the off-taker for the solar plant.

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The project is scheduled for commissioning within 15 months from the date of PPA execution. 

With this, the total renewable capacity of Tata Power will reach 4,611 MW comprising an installed capacity of 2,947 MW and 1,664 MW under implementation.

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Source: pv magazine