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India: NVVN to sign PPAs with 22 companies

NTPC Vidyut Vyapar Nigam (NVVN) is expecting to sign power purchase agreements (PPAs) with 22 companies by the end of this month to develop 350 MW of grid connected PV power.

22 companies will sign PPAs end of this month for 350MW of PV power in India.

Ministry of New and Renewable Energy, India

The companies that are in the list of 22 include GAIL (India), Welspun Solar, Mahindra Solar One, Enfield Infrastructure, Essel Infraprojects, Azure Power India and Fonroche Energie S.A.S.

The trading arm of NVVN is the allocated agency for sale and purchase of grid-connected solar power under the Phase-I of the Jawaharlal Nehru National Solar Mission. NVVN had distributed letters of intent to the short-listed developers for the second batch of Phase-I last month.

Letters of intent have been issued to the short-listed companies for 28 projects all over India. The largest share is held by Rajasthan where 24 projects are located. Two are in Maharashtra in the mid-West and one each in the southern states of Andhra Pradesh and Tamil Nadu. More than 150 companies have apparently shown interest to develop projects up to 20 MW under the second batch.

The tariffs quoted are apparently the lowest globally with an average of 8.77 INR per kWh (€0.13) and a lowest bid of 7.49 INR per kWh (€0.11).  If compared with tariffs of over 18 INR per kWh (€0.26) at the start of the mission, this is a reduction of more than 50 percent according to the Ministry of New and Renewable Energy, India.

The official conclusion of the PPAs would mean that the target of over 1,000 MW capacity that is expected in Phase-I would be fulfiled. Phase-I expects 1,100 MW up to 2013, Phase-II, 4,000 MW up to 2017 and Phase-III, 20,000 MW up to 2022.