Six Companies Win Bids for 550 MW Solar Capacity in UP

Tata Power, Adani Group, and NTPC are some of the big winners in the auction which was conducted by UPNEDA.

Uttar Pradesh government in its massive solar push has selected six energy major for nine projects in the state totalling a capacity of 550 MW. Ranging from a capacity of 25 MW to 100 MW will provide grid-connected power to the state.

Tata Power, Adani Group, and NTPC are some of the big winners in the auction which was conducted by UP New and Renewable Energy Development Agency (UPNEDA) under the new UP Solar Energy Policy 2017.

The response to the tender was impressive and the tender was oversubscribed by 45%.

Eyeing 10,700 MW of solar energy capacity in Uttar Pradesh by 2022, the state government is partnering with private companies to develop solar parks. This move is also aimed at reducing the state’s carbon footprint and the overdependence on thermal plants.

Lately, solar tariff in the state of Uttar Pradesh have been gradually declining. Earlier, 500 MW auctioned by UPNEDA had attracted the bids in the price range of Rs 3.04 and Rs 3.08 per unit. The lowest price for the bid was quoted by National Thermal Power Corporation (NTPC) at Rs 3.04 per unit; NTPC won 85 MW of the project.

Source: Business Standard