Tangedco is planning to procure 1500 MW of solar power through reverse bidding process: Report

Solar Farm

Tangedco will procure 1500 MW solar power through reverse bidding process at an upper limit of 4 per unit

The Tamil Nadu Generation and Distribution Corporation (Tangedco) is reportedly planning to procure 1500 MW of solar power. According to The Hindu Tangedco will procure 1500 MW solar power through reverse bidding process at an upper limit of Rs. 4 per unit.

Tamil Nadu Energy Regulatory Commission (TNERC) recently fixed a solar tariff of Rs. 4.50 per unit excluding accelerated depreciation benefits for the period starting April 1, 2017.

Tangedco has cut the upper limit for the bidding to Rs. 4 from Rs. 4.50 per unit in the preceding tender. A Tangedco official speaking to the publication said it has filed a petition with the TNERC for approval.

Tangedco’s last tender for procuring 500 MW of solar power received bids from 16 bidders for setting up capacity of 224 MW at a tariff of Rs. 4.40 per unit claims the report. The benchmark tariff fixed for the tender was Rs. 4.50 per unit. The TNERC has set a renewable energy purchase obligation of 2.5% for the financial year 2016-17 and 5% for 2017-18.

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