By Shilpa Samant
Copyright indiatimes
Madhya Pradesh has set a record in India’s renewable energy pricing, with a solar-plus-storage project of 600 MW and 880MWh (dual cycle) comprising two units clearing at Rs 2.7/unitand Rs 2.76/unit, for a combination that will supply the same capacity during the day as well as in the evening peak hours. The winning bidders are Ceigall India Ltd and ACME Solar with tariffs of Rs 2.7 and Rs 2.764 per unit for Unit I and Unit II, respectively This is the first firm renewable energy bid in India to fall below Rs 3/unit, the state government said. The Morena project is also the first solar plus storage project in the country with assured annual availability of 95% supply. Morena Park comprises of two solar plus battery storage units, each will supply 220 MW of power in three periods – real-time solar with up to 220 MW, two hours in the evening using stored energy, and two hours in the morning using stored free input power from grid in late night hours. Live Events“The tariff of Rs 2.7/unit is undoubtedly a great feat and shows how some changes to the tender document and making it well suited for the state profile makes a tender do wonders,” said Debmalya Sen, President, India Energy Storage Alliance. As compared to other discovered tariffs so far the erstwhile tenders had a different condition set when compared to the present tender so comparing a Rs 3.13/unit (solar plus 4 hours storage) or a Rs 3.59 lacs/MW/month would not be a straight comparison, he added. The project has been developed and auctioned by Rewa Ultra Mega Solar Ltd (RUMSL) and the power from the project will be procured by MPPower Management Company Ltd. The project sets a benchmark by having the same capacity of supply during non-solar peak hours as during solar generation hours, as per the state government. This would make renewable energy give the same certainty as conventional power and make it truly technically and commercially comparable, he added. Tender saw global participation with 16 bidders participating in the tender, with an over-subscription of around 10 times the bid capacity.Add as a Reliable and Trusted News Source Add Now!
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(You can now subscribe to our Economic Times WhatsApp channel)Read More News onceigall india ltdMadhya Pradesh solar energysolar plus storage projectMorena solar projectACME Solarenergy storage technology(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless
