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Tangedco starts negotiations with solar power bidders

According to reports, the Tamil Nadu Generation and Distribution Corporation has started negotiating on the solar tariff with bidders for the solar power generation project.

According to sources in the know, the utility is quoting a tariff of Rs 6.48 a unit for solar power under the proposed 20-year power purchase agreement. It has given time to the bidders to decide. The negotiations are expected to continue for the next couple of days.

Tangedco’s tariff, according to reliable sources, is pegged on the Central Electricity Regulatory Commission’s guidelines for capital cost norms for solar photo voltaic projects for 2013-14. The guidelines were published in October 2012. It estimates the capital cost per MW at about Rs 8 crore.

Over 90 bidders have submitted bids to set up a total of about 500 MW of solar power generation capacity in the State. Tangedco’s target is to attract investments for about 1000 MW of solar generation capacity in the next one year.

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