SunEdison has signed a longterm power purchase agreement with Tata Power Delhi Distribution Ltd (TPDDL) to provide 180 MW per year of utility-scale solar power to consumers in the Capital.
Power will be supplied to the distribution company at two rates — ₹5.93 a unit (KWh) and ₹5.97 a unit.
The final tariff, after factoring in other expenses, will work out to ₹6.49 per unit and ₹6.52 a unit, Pashupathy Gopalan, President (Asia-Pacific and Sub-Saharan Africa), SunEdison, told reporters here.
The agreement to supply solar power is for a period of 20 years once the projects in Madhya Pradesh to service Delhi are commissioned, the company said. He added that given the long duration of the PPA, prices will be competitive over the next few years assuming there is no fluctuation in fuel rates.
The solar power plants being built in Shivpuri, Madhya Pradesh, are projected to generate 375,000 MW hours annually and eliminate the emission of approximately 300,000 tonnes of carbon dioxide per annum.
The plants are expected to be operational over the next year-and-a-half while the company aims to achieve financial closure of the project in 6-9 months.
He added that given the long duration of the PPA, prices will be competitive over the next few years assuming there is no fluctuation in fuel rates.
Maintenance of the plants will be carried out by SunEdison Services. A company statement said that the agreement was the largest signed by SunEdison under the open access solar framework, which allows renewable energy providers to sell energy directly through the national grid to end customers.
SunEdison, which has its headquarters in the US, operates about 250 MW of wind and solar projects in India and has plans to build or acquire 1,000 MW more.