The Maharashtra Electricity Regulatory Commission (MERC) has approved Brihanmumbai Electric Supply and Transport Undertaking’s (BEST) to procure 400 MW wind-solar hybrid power from Solar Energy Corporation of India (SECI).
In a petition, BEST had asked MERC’s approval to sign Power Sale Agreement (PSA) for 400 MW of wind-solar hybrid power from SECI at a tariff of ₹2.41 (~$0.0326)/kWh discovered through competitive bidding plus SECI’s trading margin of ₹0.07 (~$0.0094)/kWh for 25 years.
The power was to be procured from SECI’s 1,110 MW interstate transmission (ISTS) connected wind-solar hybrid power projects (Tranche-III). In the auction held in December 2020, ABC Renewable Energy, a subsidiary of Axis Energy, was awarded 380 MW of projects, Adani Renewable Energy Holding Eight Limited was awarded 600 MW, and AMP Energy was awarded 130 MW for ₹2.41 (0.0326)/kWh. ACME Solar quoted ₹2.42 (~$0.0327)/kWh for 300 MW of projects but was only awarded 90 MW under the bucket-filling method.
Initially, SECI had approached BEST for 600 MW of wind-solar hybrid power at ₹2.41 (0.0326)/kWh plus SECI’s trading margin of ₹0.07(~$0.0094)/kWh. However, BEST consented to the signing of PSA for 400 MW.