May 19 (Renewables Now) - The Maharashtra Electricity Regulatory Commission (MERC) has given the green light to a local distribution company, or DISCOM, to procure 350 MW of solar power at a tariff of INR 2.90 (USD 0.038/EUR 0.035) per kWh.
The commission has said, as quoted by Mercom India, that the tariff falls within an acceptable range for solar projects in the state considering the current market conditions.
The DISCOM, namely Maharashtra State Electricity Distribution Co Ltd (MSEDCL), turned to MERC for approval of the tariff after awarding the above-mentioned capacity in an undersubscribed 500-MW tender held in December 2019. The winners in the competitive process were Tata Power Renewable Energy Ltd, which was awarded 100 MW, and Avaada Energy Pvt Ltd, which was successful with 250 MW.
According to the commission, the particular tender was undersubscribed because it only sought bids for intrastate solar projects.
(INR 10 = USD 0.132/EUR 0.121)