Two 600 MW unites of Shree Singaji TPP in Khandwa district to be dedicated by Prime Minister Narendra Modi on March 5.
Further, the foundation stones of two additional 660 MW units of the same plant will also be laid.
Shree Singaji Thermal Power Plant is a coal-fired project located near Dongaliya village in Khandwa. The project is owned by MPPGCL.
NTPC board has approved the investment proposal for 1,320 MW thermal power project in Madhya Pradesh.
The proposal involves setting up of Khargone Power Project in the State of Madhya Pradesh at an appraised current estimated cost of Rs 9,870 Crs.
However, the approval is subject to Environment Clearance of Ministry of Environment and Forests.
The Board of Directors has also accorded approval to the company's proposal to set up 10,000 MW of renewable energy projects during the next five years.
Essar Energy’s Mahan-I 600MW coal-fired power plant in Singrauli district has been ordered to stop all operations by the Madhya Pradesh Pollution Control Board (MPPCB).
During the monsoons in September last, MPPCB’s regional office in Singrauli reported that large quantities of fly ash — an effluent discharged during the combustion of coal — was flowing from the plant into the Garha stream and surrounding areas. In reply to a notice sent to Essars’s local subsidiary — Essar Power MP Limited — the company said that a new ash dyke to store the ash was under construction and that illegal discharge of ash outside the factory had taken place due to unexpectedly heavy rainfall.
Not satisfied with their response, the MPPCB ordered it to stop all operations on January 13. The company has also been asked to build a permanent ash dyke, install a continuous ambient air monitoring station, a sewage treatment plant and a tree plantation. Only on completion of these works can the company apply for permission to restart operations.
Essar has two 600MW power plants in Mahan. While Mahan-I started Commercial Operations in April, 2013, Mahan-II is under construction. Both plants intend to draw coal from the Mahan coal block, which has proven reserves of 150 tonnes of coal, where mining has not yet started as clearances have not yet been granted.
The forest in Mahan is home to 14,000 people, including Agria, Kol, Khairwar, Gond and Panika tribes. Objections were raised by the Union Ministries of Environment and Forests and the Ministry of Tribal Affairs over endangering biodiversity and violation of forest rights
Despite this, the Rs. 6,500 crore joint venture of Essar and Hindalco to mine in Mahan was granted clearance due to “huge exposure to nationalised banks.”
Greenpeace’s Media Officer in Singrauli, Avinash Chanchal told that the factory continues to violate rules. “Their ash dyke is just across the road from a settlement. It poisons the water table and pollutes the air causing lung problems.”
Greenpeace and the Mahan Sangharsh Samiti hoisted a banner over Essar’s offices in Mumbai last week which read “We Kill Forests.”
Essar House Limited filed a defamation suit against the activists on Monday. While company sources said it is for Rs. 500 crore, Greenpeace said it was a Rs. 1,000 crore suit.
Renewable energy projects worth Rs 30,000 crore are being implemented in Madhya Pradesh, which have quietly reached out to companies and attracted GE, Reliance Power, Spanish wind major Gamesa and others, giving tough competition to Gujarat in the sector.
The buzz of activity has catapulted the state to the top slot of renewable energy in the country where Narendra Modi's Gujarat was hailed as the most successful state in the sector. MP's Chief Minister Shivraj Singh Chauhan has accelerated the state's drive for renewable energy, helping it expand rapidly and kickstart many projects, including 4,600 mw of being executed, state government officials said.
The state invited proposals in November 2012, seeking investments to the tune of Rs 10,000 crore, with the full backing of Chauhan. "The chief minister gave us a blank cheque and complete support to go ahead with our plan to develop renewable energy in the state.
The idea was to set a plan in place and first see the results on the ground rather publicise just a policy on paper," said S R Mohanty, secretary, new and renewable energy department, Madhya Pradesh. The state has made things easy for investors.
Renewable energy projects worth Rs 30,000 crore being implemented in Madhya Pradesh To set up a wind project, the developer has to just submit a resource assessment report of any site in the state. It applies for solar, bio and hydel as well, where if the selected site is government's land, the developer gets it for the life of the project i.e. 25 years.
In case of private land, the government facilitates the acquisition. Finding a good site and getting clearance for it is a major hassle in the wind sector. So when the land is made available by the government, it simplifies the whole process. The state's policy, no doubt is simple and transparent," said Sunil Jain, managing director, Hero Future Energies.
Hero has 208 mw of wind and 50 mw of solar power project underway in the state. While there is a National Solar Mission at the central level, state policies on solar power are quite ambiguous, the only exception was Gujarat.
The Modi-ruled state was an early mover in the sector even before the PM announced the national solar mission. In 2010, Gujarat signed around 88 solar power purchase agreements with 75 developers for 25 years with tariff as high as Rs 12.54 per unit without competitive bidding. But Gujarat backtracked on the tariff last year as tariffs of new projects fell to half of Gujarat's rates, compelling the state to appeal to apex electricity regulator for revision in tariff.
Gujarat has an installed capacity of 852 mw in solar and 3,114 mw in wind as on March 2013. MP however has given developers much more freedom to sell power. They can sell outside the state; take the national solar mission or renewable energy certificate route, or sign a PPA. Sanjay Chakrabarti, partner & cleantech sector leader at Ernst & Young said MP is the new Gujarat for renewable power producers.
"In the last one year, maximum addition in renewable based power capacity has happened in MP. More than the policy, it's the strict execution and political stability that has helped invite investments in the state," he said.
"Gujarat had an ambitious feedin tariff policy while MP has a bigger focus on projects not getting feed-in tariff. For such projects, the efficiency rate in MP is higher as there is government support in getting clearances, choice of sale of power and transmission infrastructure," said Bharat Bhushan Agrawal, senior analyst (solar) at Bloomberg New Energy Finance. Sumant Sinha, founder and CEO of Renew Power said that MP could become an interesting state for investment in renewable.
"The state would see a good addition in solar and wind.It has a lot of room for investment with the government adopting a high degree of openness and facilitation," he said. Investors seem bullish about MP may be due to the ease of getting land, clearances and grid connectivity," said Agrawal.
Reliance Power has announced that the equipment for the third 660 MW unit at the 3,960 MW Sasan Ultra Mega Power Project in Madhya Pradesh has started functioning.
"The boiler, for its third 660 MW unit at the 3,960 MW Sasan Ultra Mega Power Project, has been commissioned," the company said in a statement. The first 660 MW unit of the Sasan UMPP had been commissioned in March 2013 while the second unit was synchronised to the grid in December 2013.
Meanwhile, coal production has already commenced from the 20 million tonnes per annum capacity Moher and Moher-Amlohri coal mines, allotted for the Sasan plant. Shares of the company were trading at Rs 67.50, up 1.43 per cent on the BSE. Reliance Power stock price On January 13, 2014, Reliance Power closed at Rs 67.35, up Rs 0.80, or 1.20 percent.
The 52-week high of the share was Rs 98.50 and the 52-week low was Rs 58.55. The company's trailing 12-month (TTM) EPS was at Rs 1.75 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 38.49. The latest book value of the company is Rs 59.98 per share. At current value, the price-to-book value of the company is 1.12.
Madhya Pradesh has made an enviable turnaround on power front by becoming an electricity selling state from electricity purchasing one, all thanks to relentless efforts of state government in past one decade.
State-owned Madhya Pradesh Power Management Company Limited is now filling up tenders of other states to sell its surplus power to them.
The company has so far got an order to supply 450 MW power to Uttar Pradesh on short term basis from July this year. Besides this, the company is awaiting a node from Andhra Pradesh to supply another 750 MW of electricity to it, for which tender formalities have been completed.
“We are looking for orders from other states as well for supply of power” said managing director of Madhya Pradesh Power Management Company Limited, Manu Shrivastava.
He said as of now the state has more than 1000 MW surplus power even after meeting all domestic requirement.
The state has power availability of 10,500 MW from all its domestic sources and supply from Central share.
Shrivastava said that the maximum consumption in the state was 9000 to 9500 MW.
According him, the state would be able to sell more power on a short term basis indicating that state was self-sufficient on power front.
When asked whether entire population of the state had the luxury of power, he said barring small hamlets, all villages across the state have got electricity. The remaining areas to will gradually get power, he said.
Electricity consumers are in for a real shocker in 2014 as the power distribution companies (discoms) gearing up to demand 25% hike in tariff for the coming year. Things are going to worsen for the people who are already facing the brunt of power tariff hike due to fuel cost adjustment (FCA).
The discoms are likely to submit their average revenue requirement (ARR) details and seek increase in power tariff from the Madhya Pradesh Electricity Regulatory Commission (MPERC) by January 21. As per norms the MPERC seeks public opinions, and crosschecks the requirements before approving the final tariff hike for the financial year- the entire process is to be completed within 90 days of the submission of ARR projections by the companies.
Discom sources said that the companies will demand a hike of 23-25% hike in power tariff, however how much hike will be allowed, depends on the commission.
Managing director the Madhya Pradesh power management company, Manu Shrivastav said, "We have sought time till January 21 from MPERC and companies are currently calculating the ARR and based on it we will file demand for hike."
The companies cumulatively projected Rs 20,599 crore in 2013-14 and demanded a tariff hike of 20-25% percent but MPERC allowed just .77% hike. Requesting anonymity an official of a company attributed the low increase in power tariff in year 2013-14 to the upcoming state assembly elections. It is more likely that if the tariff rates for this financial year are approved by MPERC before the Lok Sabha elections, the companies will again be at the loosing ends, he added.
Shares of Reliance Power today rose by nearly 3 per cent on the possibility of CBI closing its preliminary enquiry to probe coal block allocation to a power project in Sasan in Madhya Pradesh run by Anil Ambani's firm.
Reacting to this, Reliance Power's scrip went up by 2.89 per cent to Rs 74.7 on the BSE.
On the NSE, the stock rose by 2.89 per cent to Rs 74.70. The CBI is of the view that the allocation is a policy decision vetted by group of ministers.
CBI sources said it has come to light that use of surplus coal from the Sasan UMPP was approved on two separate occasions by two EGoMs. They said since it was a policy decision, CBI was not likely to question it.
However, they added that any final decision has not been taken over the closure and any such decision can only be taken after taking into consideration the views of the Supreme Court.
The sources said they have informed the Supreme Court about the preliminary enquiry in their status report and agency would proceed according to further directions of the apex court.
After the registration of the preliminary enquiry, ADAG spokesperson had said in a statement that "we welcome the independent time-bound enquiries by the CBI, monitored by the Supreme Court, which will clearly establish our bonafides".
It will "once and for all prove beyond doubt that we have been the unfortunate victims of a mischievous campaign of calumny and vilification conducted at the behest of our unscrupulous corporate rivals over the past 5 years," the statement said.
The allocation of coal mines to the Sasan project was done to a 100 percent government-owned company in the year 2006 when Reliance Power had not even won the project, it said adding the government disinvested its shares to Reliance pursuant to a global tender in the year 2007.
The preliminary enquiry was registered on the directions of the Supreme Court that had asked the CBI to probe 14 issues including supply of low floor buses by Tata motors to Tamil Nadu government, grant of spectrum and alleged market manipulations and hammering of stocks by Unitech.
Electricity regulator CERC, will tomorrow, hear Western Region Load Despatch Centre's petition challenging Reliance Power's claim of commissioning the first unit of its Sasan ultra mega power project, in Madhya Pradesh.
CERC (Central Electricity Regulatory Commission) will hear issues related to commercial operation of Sasan plant, according to information available on the regulator's website.
The Western Regional Load Despatch Centre (WRLDC), which operates the power grid in the region, had questioned the start date of commercial operations at the Sasan plant, where the first 660-MW unit was commissioned in March.
Based on a petition filed by the WRLDC, the CERC had set aside a certificate issued by the independent engineer for declaration of commercial operations at the Sasan plant.
Reliance Power filed an appeal with the Appellate Tribunal for Electricity (APTEL) on the grounds that CERC's order is violative of principles of natural justice and is not tenable in law.
APTEL set aside CERC's order on August 13 and directed it to decide afresh on the matter of commercial operation date.
While referring to the judgement of APTEL, WRLDC in its petition with the CERC said that since the issue of maintainability is linked with the main issue on merits, the commission can consider all issues and then come to a conclusion.
Sasan Power Ltd (SPL) is the wholly owned subsidiary of Reliance Power which is executing the 4,000 ultra mega power project. The first unit started producing power on March 30, Reliance Power said in a BSE filing on April 4.
The company is executing UMPPs in Sasan, Krishnapatnam (Andhra Pradesh) and Tilaiya (Jharkhand).
Source: Business Standard
The Manila-based Asian Development Bank (ADB) today said it had approved a $350 million loan for power asset upgrades in Madhya Pradesh that will allow the state to meet booming consumer demand for power.
“The state has made impressive network gains in recent years but demand is outstripping supply, and the quality of electricity needs further improvements, especially in rural areas,” said Mr Herath Gunatilake, Lead Energy Economist in ADB's South Asia Department.
“Our assistance for transmission and distribution improvements will help Madhya Pradesh’s efforts to provide good quality power, 24 hours a day," he said.
A press release from ADB said that Madhya Pradesh, whose economy is growing at a quicker rate than the national average, was expected to see its demand for electricity rise by about 11% a year between fiscal years 2013 to 2017, resulting in a potential transmission and distribution capacity gap of about 20%.
The mismatch between supply and demand has caused regular load shedding in the past, and currently only about two-thirds of all households are connected to the system, it said.
The Madhya Pradesh Power Transmission and Distribution System Improvement Project will carry out physical upgrades to increase capacity and deliver power more efficiently. It will fund about 1,800 circuit kilometers of transmission lines and more than 3,100 circuit kilometers of distribution lines, as well as building or upgrading transmission and distribution substations, the release said.
Training and other support will be given to staff of the Madhya Pradesh Power Transmission Company, as well as three state distribution companies, to strengthen their management capabilities and to make the companies more financially sustainable and service oriented.
The project will build on previous ADB investments in the state’s power sector - including transmission and distribution assets - totaling more than $1.3 billion since 2001.
Along with ADB’s loan from ordinary capital resources, the Government of India will provide $150 million for a total investment cost of $500 million. It will run for about four and a half years with an estimated completion date of December 2018, the release added.
Reliance Power today said it has started electricity generation from the second 660 MW unit of the 3,960 MW Sasan ultra mega power project in Madhya Pradesh.
With the commissioning of the Sasan UMPP second unit, the company's overall generation capacity has crossed 3,200 MW.
The second unit of the project has commenced power generation in shortest time of just about a month from boiler light up, Reliance Power said in a statement.
look at the five states where elections have been held reveals a mixed bag in terms of their achievements in power, a key constituent of the bijli, sadak, paani troika and which is often used as a yardstick for how governments have delivered on basic infrastructure.
The smaller states generally seem to have done better on key measurable parameters such as augmenting capacity at the generation end and cutting down on technical and commercial losses on the distribution side.
Even those that have done well seem to have focused their attention more on the upstream generation side, while the downstream distribution segment continues to do badly, with Delhi being the only exception.
Chhattisgarh
On power generation capacity, Chhattisgarh has made significant progress in facilitating pit-head projects, aided by the local availability of coal resources.
Private generation projects of about 22,000 MW are under construction and expected to start during the current five-year plan period. Plants of about 10,000 MW with MoUs signed have had land acquired, water supply contracted and environment clearances granted, but further progress has slowed down due to non-availability of coal. Plus, the Chhattisgarh State Generation Company has commissioned a 500 MW unit at Korba and another of 1,000 MW at Marwa is in advanced stages of commissioning.
On the flip side, the 1,320 MW Bhaiyathan project, Chhattisgarh’s showcase, has been stuck in a morass for five years. Quotes had been invited in October 2008, and the project, which came with captive coal blocks in Korba, was awarded to Indiabulls for a benchmark tariff of 81 paise per unit, one of the lowest rates discovered through the tariff-based competitive bidding route. The mines, however, could not receive forest clearance and the project has been stuck since.
On rural electrification, the Centre has placed the performance of Chhattisgarh — specifically with respect to the implementation of the former’s flagship Rajiv Gandhi Grameen Vidyutikaran Yojana —under the “unsatisfactory” category. Chhattisgarh has, in turn, blamed the central PSUs — NESCL, NHPC and PGCIL — that were appointed implementing agencies.
Also, Chhattisgarh has been reluctant to come to terms with the provisions of the Financial Restructuring Scheme for Power Distribution Companies, wherein 50 per cent of the outstanding short-term liabilities (STL) as on March 31, 2012, are to be taken over by the respective state governments. This amounts to about Rs 550 crore in the case of the Chhattisgarh State Power Distribution Co. Ltd. The government has said absorbing the STL may excessively burden the budget and sought a change in the structure of the scheme.
Delhi
Delhi has made significant progress in ramping up capacity in sync with rising demand, despite constraints of land and fuel. Last fiscal, Delhi met a peak of 5,642 MW, up from 4,408 MW in 2009-10, and is gearing up to meet a peak of 6,000 MW this fiscal. The state’s own generation capacity increased from 982 MW to 2,200 MW during the 11th plan and another 2,800 MW is proposed to be added during the 12th, taking the total capacity to around 5,000 MW.
On the distribution side, Delhi’s aggregate losses are down from 25.18 per cent four years ago to 15.15 per cent in 2011-12, as compared to the national average of 26.15 per cent. But the financial positions of the three private distribution utilities, especially the two run by BSES, are reported to be in bad shape.
Among showcase projects, the first 750-MW phase of the Bawana plant was commissioned in 2010-11. While the second 750-MW phase is almost ready for commissioning, the lack of supply of enough gas is holding up progress. Also, the project for islanding Delhi, which would put it on par with Mumbai, is being implemented and expected to be completed by 2013-end or 2014.
Madhya Pradesh
Generation capacity is up from 6,418.8 MW in March 2006 to 10,698.6 in March 2013. This is largely on account of capacity set up by central sector utilities, which have almost doubled capacity from 1,715.85 MW to 3,526.1 MW during the period. Also, while AT&C losses have come down from 37.79 per cent to 27.11 per cent between 2009 and 2012, these are still higher than the national average. The government says revenues have increased from Rs 4,521 crore in 2003 to 15,284 crore in 2013.
The government’s promises include 24×7 supply to non-agricultural consumers, 10 hours quality power for agriculture, and to make the state energy-surplus by 2014 with a focused thrust on solar, wind, small hydro and biomass projects. The contribution of renewable energy sources is targeted to go up from 5.31 per cent (499 MW) to 17 per cent (3,200 MW) by June 2015.
Mizoram
The small northeastern state managed to increase its installed capacity during the 11th plan by 15.6 MW and build 168.49 km additional transmission lines. Transmission and distribution losses at the beginning of the 11th plan were estimated at 52 per cent, which was brought down to 29.16 per cent by the end of the period. Plus, under the Rajiv Gandhi Grameen Vidyutikaran Yojana, the state electrified 94 villages (68.6 per cent of a target of 137), gave BPL connections to 15,144 households (55.2 per cent of the targeted 27,417) and set up four 33-kV substations, broadly on target. The construction of the Tuirial HEP (60 MW) by NEEPCO is reported to be progressing well and the government has cleared its equity share of Rs. 41.14 crore for evacuation of power from the Pallatana gas-based project.
Rajasthan
During the 11th Plan, the state added 4,219 MW to its capacity, with another 860 MW added during 2012-13, taking the total installed capacity to 11,168 MW. Another 3,415 MW from conventional sources is likely to be added by March 2014.
As part of the Congress government’s “vision 2017”, the state hopes to become “self-sufficient” in power generation by the end of 2013-14. Also, electrification is under way in all revenue villages with a population over 300 under the RGGVY. Rajasthan has been proactive in offering support of Rs 8,954.89 crore to its power utilities and is implementing a restructuring plan of Rs 19,254 crore proposed under the Centre’s debt restructuring scheme. Plus, the state has been aggressively promoting generation from renewable energy sources.
The MP Power Management Company Ltd. (MPPMCL) Invites sealed responses from interested companies and/ or Bidding Consortium for selection of successful bidder(s) for supply of Solar Power from Grid connected Solar Power Project at the rate fixed for 25 years through a competitive bidding process.
Salient features of the Tender:
BID SPECIFICATION NO.:- 07-11/IPC/MPPMCL/2014/Solar Power-81 dated 28.11.2013
• Competitive Bidding will be in accordance with “Single-Stage” bidding process and is open to all Eligible Bidders.
• To obtain further information regarding bidding document, the Bidders may contact: -
Executive Director(IPC)
MP Power Management Company Limited
BLOCK No. 11 First Floor, SHAKTI BHAWAN, RAMPUR
Jabalpur, Madhya Pradesh (M.P)
India- Pin 482008
Ph No.- 0761-2667511,2702402,2702524
Fax No. : +91-761- 2667511
Email: rmehta@mptradeco.com
Website: www.mppmcl.com
• The Bidding document is available at www.mppmcl.com.
• Detail Bid Document can be downloaded from said web site and non refundable bid document fee of Rs. 10,000/- or 164 US Dollars should be paid in the form of Demand Draft/Bankers Cheque/ Pay Order drawn in favor of MP Power Management Co. Ltd. Payable at Jabalpur
• The Prescribed Bid Bond of Rs. 20 Lacs/MW Shall be in the form of Bank Guarantee and has to be submitted with RFP as per format 4.6. (Valid for a period of 30 Days from the last date of submission of the response to RFP)
• Bidder must Submit their Bids to the address above at or before 1500 hrs on the above deadline together with the bid bond. Bids reached late due to postal/courier delay or any other reason will not be accepted.
• The non financial bid will be opened at 1530 Hrs on the same day of the deadline in the presence of bidders representatives who chose to attend at the address above
Reeling under financial burden, the power distribution companies (discoms) in Madhya Pradesh are not keen on buying power generated through non-conventional means in view of the high power tariff.
None of the three discoms in the state are keen on entering into power purchase agreement (PPA) with alternate energy producers.
This, despite the emphasis on promoting alternate energy sources by the state and union governments.
The only notable PPA entered by state's power management company was with Welspun Renewable to buy 151 MW solar power generated by it.
The discoms are incurring heavy losses and think that buying power from the alternate energy producers is a costly affair. On the other, the alternate energy producers believe that it will not affect them at all as they can pass it on to their consumers and its impact will be minimal even on consumers. The discoms believe that buying power from conventional sources of energy cost them merely Rs 3 per unit, whereas the cost is as high as Rs 9.30-13 and Rs 8 in case of REC. Still, the MP electricity regulatory commission has made it mandatory for discoms in the state to meet a minimum of 0.60% of their power requirement through alternate sources of energy, which include solar energy.
Talking to TOI, joint managing director of Indore-based solar energy firm, Ujaas, Anurag Mundra, said, "The national tariff policy 2006 mandates the state electricity regulatory commissions (SERC) to fix a minimum percentage of energy purchased from renewable sources of energy. This obligation of purchase of solar power can be met by either direct purchase of solar power, commonly known as preferential power purchase agreement (PPPA)/ special feed in tariff (FIT) or by the purchase of solar renewable exchange certificate (REC) from the power exchange". Alpha is another solar energy firm in the state which also works on REC model.
The cost of fulfilling the renewable power obligation (RPO) will be included in the tariff charged by the utility companies. As per the estimates and data available the cost of fulfilling state renewable power obligation (SRPO) is around 4-6 paisa per power unit. Hence fulfilling the RPO doesn't lay any additional burden on the utilities, argue the renewable energy producers.
MD of Welspun Renewable, Vineet Mittal, said, "Among the five firms that had been assigned to supply solar power to the state, only we have completed the financial closure. We hope to start supplying renewable energy to the MP Power Management Co at the rate of Rs 8.05 per unit within a month."
When contacted, OSD, state's energy department, Ashok Shukla, said, "We have already bought renewable energy amount8ing to 300 MW. But, we do it on a competitive bidding basis only".
Solar Energy producers in Madhya Pradesh are in bad state due to low power purchase by the State Distribution Companies (Discoms) from the Solar Projects installed in the state.
According to sources, the MP Power Management Company is buying only 10.7 crore units annually leaving deficit of 23.9 crore units.
Ujaas Energy, Welspun and Waaree are the major solar producers in the state and feel that unless there is a new regulation will be introduced the solar energy situation in the state will not change.
Solar Producers are also referring to the recent RPO compliance orders issued by the Regulatory Commission of Maharashtra and Joint Regulatory Commission of Goa and UTs.
ETain ImMODO Renewables Ltd, Ahmedabad based leading Solar Turnkey Services provider, has been awarded two Solar PV projects with total capacity by Madhya Pradesh Government.
Under the “Policy for implementation of Solar Power based projects in Madhya Pradesh, 2012”, Madhya Pradesh New & Renewable Energy Department (“MPNRED”) has floated a Request for Proposal (RfP) and invited bids for setting up of solar projects under Category II and III of the said policy.
Details of the Bids received by the MPNRED are as follows:
ETain ImMODO Renewables Ltd (EIRL) which currently is operating more than 95 MW of solar projects worldwide including a 15 MW project in Gujarat Solar Park, has bided for around 20 MW solar projects for the said RfP.
According to sources, MPNRED has issued an in-principle approval/allotment to the company for the 15 MW capacity at Khargone (5 MW) & Mandsaur (10 MW) Districts in the state.
As per the data published by the MPNRED, these districts are having more than 300 days of clear sunny days with solar ration level between 5.6 to 6.2 kWh per m2 per day.
Under the state solar policy, land for the project will be allotted by the Government for setting up of the above mentioned projects.
The projects being set up by the company are of category II under which power/electricity from the proposed projects can be used for captive purpose and/or can be sold to any third party under a long term Power Purchase Agreement.
Under the policy, the developer(s)/investor(s) can avail Renewable Energy Certificate (REC) which can be sold on the power exchanges like Indian Electricity Exchange (IEX) and Power Exchange of India (PXI).
In addition to that the developer(s)/investor(s) can avail benefits of Accelerated Depreciation and thereby substantially reduce the Income Tax Liabilities.
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