NHPC To Provide Solar Power At Rs 2.73/unit From Khavda

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NHPC Limited is all set to sell its solar power from its proposed 200 MW grid-connected solar project at Khavda in Gujarat. NHPC emerged as one of the four successful bidders for a 1200 MW solar project from the region through a tender floated by the Gujarat Urja Vikas Nigam Limited (GUVNL). 

The Gujarat Electricity Regulatory Commission (GERC) has approved the tariffs for all four bidders qualified for the solar projects. NHPC Limited was the lowest bidder with an approved Rs 2.73 per unit tariff. 

It was followed by SJVN Green Energy Limited, which also qualified for a 200 MW solar project with a tariff of Rs 2.88/unit, NTPC Renewable Energy Limited (at Rs 2.89/unit), and the Gujarat Industries Power Company Limited which got the total solar allocation of 600 MW of solar project through Greenshoe option at the rate of Rs 2.73 per unit. 

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“We decide to adopt the tariff discovered under the competitive bidding process conducted by the Petitioner through RfS No GUVNL/600 MW/Solar (Phase XVII) dated 29.09.2022 issued by the Petitioner GUVNL for procurement of power from 600 MW Grid Connected Solar photovoltaic power projects located in 600 MW Solar Park at Khavda (GSECL Stage 1) with Greenshoe option of additional upto 600 MW…,” the GERC order said.

GUVNL, on behalf of its subsidiary discoms had invited this tender on September 29, 2022, through a competitive bidding process followed by an e-reverse auction for the procurement of 600 MW of grid-connected power from solar PV projects located in the 600 MW solar park at Khavda (GSECL STage 1) with Greenshoe option of additional capacity upto 600 MW with Greenshoe option. 

The tender had received ten bidders who had submitted bids and were technically qualified. Finally, three bidders-NHPC Limited, SJVN Green Energy Limited and NTPC Renewable Energy Limited, qualified through e-reverse bidding. While NHPC and SJVN quoted 200 MW and qualified for each capacity, NTPC quoted 400 MW of capacity but was allocated 200 MW. 

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The tariff of Rs 2.73 and other nearby tariffs by other solar developers have helped to keep the renewable energy procurement rates by discoms cheaper than the fossil-fuel based electricity. Several bids for grid-connected solar projects in the past from mega solar parks have led to considerable cheaper rates, pushing many discoms to procure clean energy at cheaper rates and also use the same to meet their Renewable Purchase Obligations (RPO).