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Regulator in India's Kerala state clears 200-MW wind power deal

Wind turbines in India. Featured Image: OlegD/Shutterstock.com

February 26 (Renewables Now) - The power regulator in the Indian state of Kerala has cleared a 200-MW wind power sale agreement (PSA) between Kerala State Electricity Board Ltd (KSEB) and the Solar Energy Corporation of India Ltd (SECI), acting as intermediary procurer.

The contract was signed in mid-June 2019 and amended in December. It includes an applicable tariff of INR 2.83 (USD 0.039/EUR 0.036) per kWh plus a trading margin of INR 0.07 per kWh, derived through competitive bidding. The term of the contract is 25 years.

The Kerala State Electricity Regulatory Commission gave the go-ahead to the PSA, but instructed KSEB to file a separate petition for approval of the trading margin once the two parties renegotiate it. The commission views the currently claimed trading margin by SECI as unnecessarily high given that this is a long-term contract with minimum payment risk.

KSEB entered into the PSA as it pursues a target of meeting 925 MW from non-solar renewable energy sources by fiscal year 2021/22, whilst the state’s existing non-solar capacity stands at just about 273 MW.

(INR 10 = USD 0.140/EUR 0.128)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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