September 20 (Renewables Now) - The Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) has invited bids for the deployment of 500 MW of grid-connected solar photovoltaic (PV) capacity in India.
The Request for Proposals (RfP) was issued at the start of the week, while the deadline for submitting proposals is October 22, 2019. Interested bidders will be required to take part with projects with a minimum capacity of 5 MW. A single party can bid for the entire targeted capacity, UPNEDA said.
The state agency has set a maximum bidding tariff of INR 3.25 (USD 0.0455/EUR 0.041) per kWh, which exceeds the ceiling tariff of INR 3.05/kWh in its latest 500-MW solar tender. According to a report by Mercom Capital, this tender lured just 90 MW of bids.
Successful developers in the new 500-MW auction will be awarded 25-year power purchase agreements (PPAs) with UPDEDA.
(INR 10 = USD 0.140/EUR 0.127)