India's SJVN confirms success in 500-MW solar tender in Maharashtra

Indian power producer SJVN Ltd (BOM:533206) has won 200 MW of solar capacity in a tender held by Maharashtra State Electricity Distribution Co Ltd (MSEDCL) in order to procure 500 MW of grid-connected intrastate solar projects.

The company said in a statement today that it was awarded the full quoted capacity at INR 2.90 (USD 0.037/EUR 0.036) per kWh. It now anticipates the issuance of a LOI by MSEDCL to proceed with the signing of a 25-year power purchase agreement (PPA).

The award will lead to SJVN building a ground-mounted solar power plant anywhere in Maharashtra through an engineering, procurement and construction (EPC) contract within 18 months from the date of signing the PPA. The company estimates the tentative cost of realising this project at about INR 12 billion.

The other winners in the auction include Juniper Green Energy (75 MW), Tata Power Renewable Energy (150 MW), Sukhbir Agro Energy (50 MW) and Avaada Energy (25 MW), according to a report by Mercom.

Meanwhile, the state discom also issued an expression of interest (EOI) and request for selection (RFS) on Wednesday for the procurement of 298 MW of solar power from decentralised plants. The last day for submission of bids is September 5, 2022.

(INR 10 = USD 0.13/EUR 0.12)

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