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NLC India

India Coal Company Bags 709 MW Solar In Auction

India Coal Company Bags 709 MW Solar In Auction

written by saurabh

NLC India Limited, a coal mining and power generation company in India, has taken perhaps its largest set towards a greener and sustainable future after successfully participating in one of the largest solar power auctions in the country.

NLC India, formerly Neyveli Lignite Corporation, recently secured rights to develop 709 megawatts of solar power capacity in the Indian state of Tamil Nadu. The company shall receive Rs 3.47/kWh (5.4¢/kWh) as tariff, likely under a long-term power purchase agreement spanning 25 years.

NLC India had offered to build the entire 1.5 gigawatts of solar power capacity offered in the tender by Tamil Nadu Generation and Distribution Corporation (TANGEDCO) at a tariff of Rs 3.97/kWh (6.1¢/kWh). The company agreed to match the lowest tariff offered in the auction and will now develop 709 megawatts.

Participation in the tender is part of NLC’s overall strategy to move towards a sustainable energy future with reduce share of lignite mining and coal-based power generation. The company plans an investment of Rs 17,400 crore ($2.7 billion) to set up 4.2 gigawatts of renewable energy capacity. This includes around 4,000 megawatts of solar power and 200 megawatts of wind energy capacity.

The company plans to set up 995 megawatts solar power capacity each in the states of Tamil Nadu and Uttar Pradesh. Projects in the both the states are expected to be commissioned in 2019.

NLC India has floated a tender to set up 500 megawatts solar power capacity in Tamil Nadu in December 2016. Details of result of this tender are scarce but Gamesa was reported to have had quoted the lowest bid for 100 megawatts capacity.

In August last year, the company announced that it started construction of a 65 megawatt solar power project at Neyveli in Tamil Nadu. The project has long-term power purchase agreement with TANGEDCO.

Image by vectoropenstock.com for Cleantechies



July 17, 2017 0 comment
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Indian State Of Tamil Nadu Allocates 1.5 Gigawatts In Latest Solar Tender

Indian State Of Tamil Nadu Allocates 1.5 Gigawatts In Latest Solar Tender

written by saurabh

The south Indian state of Tamil Nadu has completed one of the largest solar power capacity allocation in the country. The state government recently confirmed that it project developers have agreed to develop a 1.5 gigawatts of solar PV power capacity following a competitive auction.

Tamil Nadu Generation and Distribution Corporation (TANGEDCO) has announced that it awarded solar power projects with cumulative capacity of 1,500 megawatts to 16 developers. All these projects have been awarded at Rs 3.47/kWh (5.4¢/kWh), the lowest tariff bid committed by 25 participating developers.

Last month, TANGEDCO received massive response to the tender with project developers willing to set up 2.67 gigawatts capacity against the offered 1.5 gigawatts capacity. The bids submitted by the participating companies varied from Rs 3.47/kWh (5.4¢/kWh) to Rs 4.00/kWh (6.2¢/kWh), the maximum allowed bid.

A public sector company NLC Limited had offered placed a bid to develop the entire 1.5 gigawatts capacity at Rs 3.97/kWh (6.1¢/kWh) but eventually agreed to do it match the lowest tariff of Rs 3.47/kWh (5.4¢/kWh).

TANGDECO called upon all the developers to match the lowest bid and 16, including NLC, responded positively. Raasi Green Earth Energy, a lesser known developer in India, is believed to the have bagged 100 megawatts; the company has placed the lowest bid. NLC was awarded 700 megawatts capacity likely because some other developers refused to match the lowest bid.

The successful tendering is a major milestone for TANGEDCO which has been really struggling to attract solar project developers when compared to other states like Telangana, Karnataka, Andhra Pradesh and Rajasthan.

TANGEDCO had offered 500 megawatts solar power capacity in February 2016 but received bids for just 177 megawatts. The utility put 500 megawatts capacity on the block again in November 2016 but received bids for 300 megawatts only.

The power utility is known to be facing financial challenges accompanied by non-availability of ample grid infrastructure to support renewable energy projects. Tamil Nadu is already the largest wind energy producing state in India.

While project developers have been given upto 24 months to commission their projects, the longest-ever in Indian history, they have chosen to quote tariffs which are at significant premium to the current lowest solar power tariff in the country. ACME Cleantech Solutions currently holds the record for lowest solar power tariff in India at Rs 2.44/kWh (3.8¢/kWh).



July 8, 2017 0 comment
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