State-run Maharashtra State Electricity Distribution Company (MSEDCL) has floated a tender to buy 500 MW of electricity from wind-solar hybrid projects.
Maharashtra will sign a 25-year power purchase agreement (PPA) with the lowest bidder participating in the auction.
Solar Energy Corporation of India’s latest bid to set up 1,200 MW of wind-solar hybrid plants discovered tariff of Rs 2.41/unit in December, 2020, much lower than the Rs 2.69/unit quoted by companies in the previous auction for hybrid plants held in May 2019.
The wind-solar hybrid power will be used to fulfill the Centre-mandated renewable purchase obligation (RPO) of Maharashtra.
Maharashtra has also recently invited bids for 1,300 MW of solar projects to be built within the state under the ‘Mukhyamantri Saur Krishi Vahini Yojana’, which will be specifically used to supply power for agriculture.
Standalone solar price has fallen to the record-low level of Rs 1.99/unit, buoyed by lower interest rates, declining solar panel prices, improved technology and assurance of power purchase. Of the 39,084 MW of installed solar capacity in the country, Maharashtra houses 2,290 MW.
India has set a target to raise the capacity of installed renewable energy generation plants to 450 GW by 2030. The current installed renewable energy generation capacity stands at 94 GW and about 34 GW is under various stages of implementation while 30 GW is under various stages of bidding.