Maharashtra invites bids for 500 MW wind-solar hybrid power

Soon after Maharashtra invited bids for 500 megawatt (MW) of solar power on May 7, state-run Maharashtra State Electricity Distribution Company (MSEDCL) has floated a tender to purchase 500 MW of additional electricity from wind-solar hybrid projects.

In a wind-solar hybrid project, at least one third of the generation capacity is based on either wind or solar energy. Maharashtra will sign a 25-year power purchase agreement (PPA) with the lowest bidder participating in the auction.

The hybrid policy was launched in 2018, primarily to overcome the challenges posed by the intermittent nature of wind and solar power plants. The model envisaged configuring wind turbines and solar systems at same grid connection points for optimal utilisation of power generating and transmission capacities.

The Solar Energy Corporation of India’s latest bid to set up 1,200 MW of wind-solar hybrid plants discovered the lowest 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 fulfil the Centre-mandated renewable purchase obligation (RPO) of Maharshtra, the tender document said. Commissioned projects, which do not have any obligations towards existing buyers, are also eligible to participate in the auction. 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

financial express
Show More

Related Articles

Back to top button