Sprng Energy quotes lowest wind tariff of Rs 2.77/unit, Mytrah follows at Rs 2.79/unit

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Sprng Energy quotes lowest wind tariff of Rs 2.77/unit, Mytrah follows at Rs 2.79/unit

Sprng Vayu Vidyut Private Ltd emerged as the lowest bidder at Rs 2.77 per unit followed by Mytrah Energy at Rs 2.79 and Srijan Energy at Rs 2.80 in a wind energy auction conducted by state-run power giant NTPCtoday.

“Sprng Vayu Vidyut Private Ltd, Mytrah Energy and Srijan Energy bagged wind energy capacities of 200 MW, 300 MW and 50 MW, at a tariff of Rs 2.77, Rs 2.79 and Rs 2.80 per unit, respectively,” a source said.

The auction was conducted for 1200 MW of wind energy capacities by NTPC for which tender was floated in March this year.

ReNew Wind Energy quoted also bagged 300 MW capacity at a tariff of Rs 2.81 per unit and Hero Wind Energy Private Limited got 300 MW at Rs 2.82 per unit.

Fasten Power quoted Rs 2.83 per unit and got 50 MW capacities.

The auction evoked good response as the tariff remained below Rs 3 per unit. The NTPC had initially floated the tender for 2000 MW but later reduced the capacities to 1200 MW after pre-bid meeting with bidders.

Commenting on this, Vikram Kailas, VC & MD of Mytrah Energy, said in a statement, “This project is one more milestone in our continuing journey to achieve a robust, well-diversified power generation footprint in the Indian renewable power generation sector. It also proves that Mytrah is well positioned to add to its portfolio of assets at competitive tariffs that provide meaningful returns to all its stakeholders.”

According to the statement, a total of 7 companies participated in the reverse auction, collectively submitting bids for a cumulative capacity of 1,750 MW. The letter of agreement will be issued by the NTPC by mid-September 2018, followed by the signing of a power purchase agreement. The project shall be commissioned within 18 months from the signing date of the agreement.

source: moneycontrol