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Independent power producer Mytrah Energy (India) has entered into a power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) for setting up a 300 MW wind power plant in Coimbatore.
Mytrah’s winning bid was part of the fourth tranche of SECI wind reverse auctions, in which 11 companies participated.
Winning bid
In the reverse bidding, they collectively submitted quotes for a cumulative capacity of 2,633.2 MW. Mytrah quoted a tariff of ₹2.52/kwh to win the auction.
In a statement, Vikram Kailas, Vice-Chairman and MD of Mytrah Energy, 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.”
18-month deadline
Projects awarded under Tranche IV of the SECI auctions have to be commissioned within 18 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 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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