Despite the increase in prices of solar panels in recent months and the GST burden, Hero Solar Energy Pvt Ltd and SBE Four Ltd bagged 500 megawatt (MW) offering to sell solar power to Uttar Pradesh government at Rs 2.47 and Rs 2.48 per KWh, respectively. This is slightly higher than the record lowest rate of Rs 2.44 that ACME Solar Holdings Pvt Ltd had bid for the 200MW project in Rajasthan in May this year.

This is the largest project in the country in the open access system where the plants would be set up in radiation-rich Rajasthan. The power will be drawn by Uttar Pradesh from Power Grid Corporation of India’s national network for no extra cost.

In April this year, Delhi Metro Rail Corporation (DMRC) had signed a power purchase agreement with Rewa Ultra Mega Solar Ltd in Madhya Pradesh to procure close to 200MW solar power as inter-state open access consumer at Rs 2.97 per KWh.

In the reverse auction carried out by Solar Energy Corporation of India on Thursday for Uttar Pradesh government for 500MW, Hero Solar Energy Pvt Ltd won 300 MW offering a tariff of Rs 2.47 per KWh while SBE Four Ltd bagged the rest 200MW at Rs 2.48 per KWh.

“Rates of Rs 2.47 per KWh, discovered through the reverse bidding, could actually be the lowest if we consider the fact that solar panel rates have increased by 10-15% in the last 4-5 months. Secondly, the industry will now have to pay about 7% tax because of GST which was not there in May,” said B K Doshi, managing director of Rajasthan Renewable Energy Corporation (RREC).

The 500MW is part of the 750MW that the UP government has decided to access from the inter-state open access system. While going to the press, biddings were underway for another 250MW.

The plants will come up in the Badhla Solar Park near Jodhpur set up by Saurya Urja Company of Rajasthan Ltd, a joint venture between government of Rajasthan and IL&FS Energy Development Company Ltd.

Projects with a capacity of 740MW have already been commissioned in the park while work on 750MW is in progress. With the current 750MW capacity which is expected to come on stream by March 2019, Badhla will be the largest solar park in the country with a capacity of 250MW.

“Rajasthan will be the solar hub of the country and the state has the potential to export power to states like UP, Delhi, Bihar, Odisha, Jharkhand, etc. where barren land and required radiation are not available. This is a great opportunity for the state to project itself as the most viable investment destination in green energy. We need to capitalise on the God gifted opportunity and be a leading hub for solar like Andhra Pradesh in electronics, Gujarat in auto and Karnataka in IT,” said Sunil Bansal, general secretary, Rajasthan Solar Association.

Source: https://timesofindia.indiatimes.com/city/jaipur/up-taps-solar-rich-raj-gets-2nd-lowest-tariffs-for-500-mw/articleshow/62215027.cms

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