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Offers tariff of Rs 2.52/kwh, 11 firms take part in reverse bidding
Independent power producer Mytrah Energy (India) has entered into a Power Purchase Agreement with the Solar Energy Corporation of India (SECI) for setting up a 300 MW wind power plant in Coimbatore district of Tamil Nadu.
The winning bid for 300 MW of capacity of Mytrah was part of the fourth tranche of SECI wind reverse auctions where eleven companies participated. In the reverse bidding, collectively they submitted quotes for a cumulative capacity of 2633.2 MW. Mytrah quoted a tariff of Rs 2.52/kwh for its winning bid.
Vikram Kailas, VC and MD of Mytrah Energy, in a statement said, “This win marks another success in Mytrah Energy’s continuing journey towards building a strong, well-diversified portfolio of wind power assets. This round of auctions further reinforces the continuing commitment towards renewable power sector while contributing towards a greener tomorrow.”
Projects awarded under Tranche IV of the SECI auctions have to be commissioned within eighteen months from the effective date of the PPA and not the date of the Letter of Award. Developers have welcomed this change since it aligns more closely with the project execution schedule.
Mytrah Energy (India) has over 40 projects (operational and under-development) in the wind and solar power segments across nine Indian states with an aggregate capacity of 2.2 GW.
The company also has a fast-growing portfolio of rooftop solar projects across the country.
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