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TEDA bids for 50 MW solar power

According to reports, Tamil Nadu Energy Development Agency (TEDA), the State nodal agency for promoting renewable energy, is bidding in Tangedco’s tender for procuring 500 MW of solar power.

TEDA has bid for 50 MW capacity in the tender at a price of ₹4.44 per kilo watt hour, making it the second highest in terms of capacity. Rays Power Infra Pvt. Ltd had bid for ₹4.40/kwh for setting up 100 MW capacity, which was the lowest bid against its benchmark tariff of ₹4.50/kwh.

The State power utility had floated a tender for procuring 500 MW of solar power, after its previous tender last year received a tepid response. In the new tender, it had received bids from 21 developers to set up 292 MW of capacity.

Tangedco had reduced the upper tariff limit to ₹4.50/kwh in the new tender from ₹5.10 per unit in the preceding one — a 12 per cent decrease. The project commissioning time line was extended to 12 months as opposed to 10 months in the previous tender. “We have the land bank in Kayathar and bid in the tender. Tangedco has asked us to match the lowest bid of ₹4.40/kwh and we have agreed,” said a senior official at TEDA.

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