Solar-Wind Hybrid Projects: CERC Approves a Tariff of ₹2.69/kWh
- May 27, 2020
- Posted by: editorial
- Category: News and Analysis
CERC Approves a Tariff of ₹2.69/kWh for Adani’s 600 MW of ISTS Solar-Wind Hybrid Projects
Solar-Wind Hybrid Projects: The Central Electricity Regulatory Commission (CERC) has endorsed a tax of ₹2.69 (~$0.036)/kWh found by the Solar Energy Corporation of India (SECI) for 600 MW of wind-sun oriented cross breed ventures (Tranche II) under the interstate transmission framework (ISTS) program.
The Commission included that SECI had completed the offering procedure straightforwardly. The exchanging edge of ₹0.07 (~$0.0009)/kWh will be commonly settled upon by the contracting parties. The Commission hosts requested that the gatherings consent to the arrangements of the installment security component.
SECI had recorded an appeal for the selection of tax found through serious offering for 600 MW wind-sun powered half breed extends under Tranche II of the ISTS program.
It included that the bidders were chosen through a straightforward offering process and according to the rules set somewhere around the Ministry of New and Renewable Energy (MNRE) for setting up of 2,500 MW of ISTS associated wind-sun powered mixture ventures.
SECI was assigned as the nodal office for the execution of the venture. It was ordered to welcome offers for the extend and go into power buy understandings (PPAs) and force deal understandings (PSAs) with the circulation licensees.
SECI had welcomed offers for the setting up of 1,200 MW of ISTS associated wind-sun powered crossover power ventures (Tranche II) in March 2019. The tasks were booked to be dispatched in 2021-22. These ventures would likewise help the appropriation licensees in meeting their inexhaustible buy commitment (RPO) targets.
The delicate was undersubscribed, and offers got were just for 900 MW against the offered limit of 1,200 MW. The e-invert closeout was completed on May 27, 2019, and Adani Renewable Energy Park (Gujarat) Limited (AREPGL) was pronounced as the fruitful bidder in the sale citing a levy of ₹2.69/kWh for a limit of 600 MW. The ventures are scheduled to be created in Rajasthan.
SECI had consented to sell the whole 600 MW to dissemination licensees at the found pace of ₹2.69 (~$0.036)/kWh with an exchanging edge of ₹0.07 (~$0.0009)/kWh upon the charging of these activities.
In light of the solicitation of the conveyance licensees, 500 MW was dispensed to Punjab State Power Corporation Limited (PSPCL), and 100 MW was distributed to India Power Corporation Limited (IPCL). Afterward, SECI went into PSAs with these licensees and a PPA with the particular reason vehicle of Adani Green Energy Nine Limited (AGEL).
The Commission endorsed the levy and asked the contracting gatherings to concede to the exchanging edge for long haul exchanges commonly. The Commission additionally coordinated SECI to consider guideline 8(1)(f) of the Trading License Regulations, which states:
“For exchanges under consecutive agreements, where escrow game plan or irreversible, unqualified and rotating letter of credit as indicated in provision (10) of guideline 9 isn’t given by the exchanging licensee favor of the vender, the exchanging licensee ought not charge exchanging edge surpassing two ₹0.02 (~$0.0003)/kWh.”
As indicated by Mercom’s India Solar Project Tracker, SECI has offered 3.6 GW limit of sun based breeze cross breed extends under the ISTS program (Tranche I to Tranche III) and sold 1.56 GW limit of ventures under Tranche I and II.
As of late, SECI broadened the cutoff time for the accommodation of offers to set up 1.2 GW of wind-sun powered half breed power extends in the nation under Tranche III of the ISTS program.
The ventures include the setting up of wind-sun powered cross breed power extends on a form own-work (BOO) premise and offering the half and half capacity to SECI.
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