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NLIU Bhopal to get solar power at Rs 1.76/unit

IANS  |  Bhopal 

(NLIU) will get solar power for Rs 1.76 per unit in first year as against the current rate of Rs 7.40 under the solar tender for central government buildings floated by the Urja Vikas Nigam, MPUVN announced on Thursday.

The rate discovered through the auction is less than one-fourth of the present rate and the Power Purchase Agreement (PPA) between bid winner AMP Solar and NLIU was signed on Thursday, a statement said.

The rate would increase by 3 per cent per annum and would thus double to Rs 3.57 at the end of project life of 25 years, which would still be less than half of the present discom (distribution company) rate," it said.

The bids for solar at NLIU and other central government buildings has been won by Delhi-based AMP Solar, it added.

The MPUVN solar tender for central government buildings has fetched the lowest tariff quote of Rs 1.38 per unit attracted by an auction in the country so far, an MPUVN statement said earlier this month.

medical colleges, also a beneficiary in the tender, have got a rate of Rs 1.63 per unit for the first year.

The RESCO-II tender issued by MPUVN attracted 9 international and domestic bidders, who oversubscribed the 8.6 MWp rooftop tender capacity by more than 630 per cent.

The RESCO project in is being implemented as a part of the Centre's Rooftop Solar Programme with support from the under Fund.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, October 11 2018. 22:30 IST