NTPC Renewable Energy Limited (NTPC-REL) and Avaada Energy have emerged as L1 and L2 bidders in Maharashtra State Electricity Distribution Company’s (MSEDCL) auction for procurement of 500 MW intra or inter-state grid-connected solar power (Phase VIII).
NTPC-REL, the L1 bidder at the auction, had quoted its rate of Rs. 2.82 per KWh for supplying 200 MW solar power out of the total 500 MW. The remaining 300 MW will be supplied by Avaada Energy, which emerged as the L2 bidder at the auction with a quoted tariff of Rs. 2.83 per KWh. Avaada Energy had quoted this rate for supplying the entire 500 MW solar power requirement of MSEDCL, but was awarded 300 MW after losing the L1 position to NTPC-REL.
Subsequently, Power Purchase Agreements with NTPC-REL and Avaada Energy for 200 MW and 300 MW respectively, will be signed by MSEDCL for a 25-year period.
Request for Selection (RfS) was issued by MSEDCL for this phase of the auctions on 29th July 2022.