500 MW UPNEDA Solar Tender Gets INR 3.25/kWh Tariff Cap

UPNEDA Issues Request For Proposals For 500 MW Grid Connected Solar PV Capacity Capping Tariffs At INR 3.25/kWh With October 22, 2019 Bid Submission: Mercom
08:29 AM (Beijing Time) - 23. September 2019

Key Takeaways

  • UPNEDA has announced a new tender seeking developers for 500 MW of grid connected PV capacity, according to Mercom India Research
  • Minimum project capacity for a single project is 5 MW and the maximum can go up to a total of 500 MW
  • Bids offered can go up to a maximum of INR 3.25 per kWh and the last date to submit the same is October 22, 2019

The Uttar Pradesh New and Renewable Development Agency (UPNEDA) has launched a new tender to procure 500 MW of grid connected solar power capacity from new PV projects. Interested developers need to submit bids by October 22, 2019 which shouldn’t exceed INR 3.25 ($0.046) per kWh.

Th minimum project capacity of a single project must have at least 5 MW and can go up to 500 MW. A single company can bid for the entire capacity, according to Mercom India Research. The winners will sign up 25-year power purchase agreement (PPA) at the winning price.

In January 2019, UPNEDA had fixed INR 3.05 ($0.043) per kWh as the benchmark tariff for its 500 MW grid connected solar PV tender but it received bids for only 90 MW total capacity and the lowest bid of INR 3.02 ($0.0434) per kWh came from the National Thermal Power Corporation (NTPC) (see 100 MW Solar Tender By EESL; UPNEDA Tender Results).

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani