Power News We love to talk!

JUL 12 2018

Tata, Fortum win Karnataka solar tender for Rs 2.85/unit

  • Economic Times, ET Bureau / Hyderabad
  • Created: Thu 12th JUL 2018

 

Tata Power and Finnish firm Fortum’s Indian unit have been awarded 250 MW each of solar projects at the Pavagada Solar Park in Karnataka’s Tumkur district. Both the companies agreed to sell power from the upcoming solar projects at Rs 2.85/unit.

According to sources in Karnataka Renewable Energy Development (KREDL), Tata had initially quoted Rs 2.88/unit while Fortum’s first bid was Rs 2.91/unit. The companies would now have to sign PPAs with the five electricity distribution companies (discoms) in a month. Capacities that would be tied up with each PPA would be related to the requirement ratio of discoms.

The projects are expected to be commissioned within 12 months from the date of signing of the PPAs. KREDL is soon expected to come up with another 150 MW of solar tenders for the same park. Authorities are contemplating to follow the engineering-procurement-construction (EPC), instead of the build-own-operate-transfer (BOOT), in upcoming 150 MW tender, an official said.

Initially, Karnataka had invited tenders for 1,200 MW, but received tenders for only 550 MW, due to the threat of safeguard and import duties on solar panels, leading to cancellation of bids.

Tags

Karnataka Distribution Companies Renewable Energy Energy Import Power Tata Power Electricity Solar TATA

Related News

  • JLR unveils its first all-electric production vehicle I-PACE in Austria  Read more
  • Oil Minister Pradhan calls for umbrella policy to synergise energy ministries  Read more
  • Adani Power, Tata Power compensation: CERC formula to solve under-recoveries row  Read more
  • `Exit from power gen business will resolve Crompton Greaves' share pledge issue'  Read more
  • How renewables faced impediments in 2017 and why they are set for more energetic 2018  Read more
  • Power Grid clears Rs 2,247 cr for Green Energy Corridor project  Read more
  • SoftBank, IL&FS; team up to power 20 Gigawatt solar power parks  Read more
  • Power for all in Odisha by March 2019, says CM Naveen Patnaik  Read more
  • Delhi government proposes surrendering 2,255MW worth of power to lower cost  Read more
  • Narendra Modi government looks to rollout DBT type benefit in power sector; here is how you will benefit  Read more