Encouraged by the historic low solar tariff discovered in the recently concluded bidding under the national solar mission, Anil Ambani-promoted power distribution companies operating in Delhi, BSES Yamuna and BSES Rajdhani, has invited fresh tenders for procuring 700 MW of renewable power to meet its mandatory renewable purchase obligation (RPO) targets.
“We are hoping to save as much as R250 crore with the fresh tenders if tariff falls to around R5 per unit,” a BSES official told FE. The last date for submitting technical bids is on January 18 while the entire process of signing power purchase agreements (PPAs) is expected to conclude by March.
In its order last month, the Delhi Electricity Regulatory Commission (DERC) allowed the discoms to withdraw the earlier tenders that had thrown up an average tariff of R6.47 per unit. The commission allowed the discoms to float fresh tenders and conduct reverse bidding to discover lower tariff in view of rapidly declining solar tariff in the recent months. In the reverse bidding conducted by NTPC for 850 MW capacity in November last year, the solar tariff fell to the lowest ever level of R4.63 per unit.
“The two discoms currently have PPAs for over 5,000 MW of conventional capacity but we need to progressively buy more renewable power every year till 2020 to meet the RPO guidelines issued by ministry of new and renewable energy (MNRE),” BSES official said.