The Madhya Pradesh Power Management Company signed two power purchase agreements for purchasing 60 MW solar energy in the presence of company’s Managing Director Manu Shrivastava on Thursday.
The power will be supplied to Madhya Pradesh for the next 25 years at competitive rates. The first PPA for 50 MW was signed with Renew Solar Energy, New Delhi and second for 10 MW with Bhadresh Trading Corporation limited, Mumbai. IPC General Manager RD Saxena, Bhashank Adlakha of Renew Solar Energy and Riken Beera signed the PPA on behalf of Bhadresh Trading Company. It is noteworthy that so far 3 agreements have been signed on World Environment Day with the motive of green energy-clean energy.
Renew Solar Energy limited is establishing a 50 MW solar power plant at Vijaypur in Sheopur district. Power from this power plant will become available for Madhya Pradesh after 25 months from July 2016 for 25 years at the rate of Rs6.97 per unit.
Bhadresh Trading Corporation is establishing a 10 MW solar power plant at Khilchipur in Rajgarh district. Power from here will be supplied to the State from December 2015 for next 25 years at the rate of Rs6.90 per unit.
Company’s MD Manu Shrivastava informed that tenders were invited from private sector as per norms laid down by MP Electricity Regulatory Commission for purchase of non-conventional energy. Of these, agreements have been signed with Renew Energy, New Delhi and Bhadresh Trading Corporation limited, Mumbai. Agreements with remaining companies will be signed soon.
Notably, the company had invited tenders for solar energy for long term availability of power in the beginning of the year. Total 24 offers were received. Of these, letters of intent were issued to6 companies to purchase 120 MW solar power on May 5. From these companies, solar power will be purchased at the rate of Rs6.47 to Rs6.97 per unit. These tariffs will be effective for 25 years.