MUMBAI: The Mahagenco’s 50 MW grid interactive solar project at
Shirsuphal in Baramati will be the first of its kind and unique PPP
model project in Indian Power sector, sources in the energy department
said. It is based on revenue share basis for a period of 25 years and this is a totally new concept in Indian power sector.
This PPP model is unique as even though the ownership of this project
belongs to Mahagenco, it will not have to invest the entire amount but
will get guaranteed revenue returns for a period of 25 years, the
sources stated.
As a response to
Mahagenco’s international competitive bidding process, M/s. Welspun
Energy Ltd. have been issued LoA being the highest revenue sharing
bidder for Mahagenco. Messrs Welspun Energy Ltd has offered 38.75%
revenue share to Mahagenco over the period of 25 years with a guaranteed
revenue from the project at 19% Capacity Utilization Factor (CUF)
annually, sources said. Further, M/s Welspun Energy Ltd. will be fully
responsible for part finance, design, engineering, manufacturing,
supply, erection, testing and commissioning of this grid interactive
solar power plan. — including operation and maintenance of this plant
for the period of 25 years. Any fall in generation will have to be
compensated by the selected bidder, the sources stated.
This project will be installed in two phases. Initially in first
phase, 36 MW solar capacity will be installed on 74 hectares government
land already acquired by Mahagenco. The remaining 14 MW capacity will be
installed with same terms and conditions after acquisition of balance
29.97 hectares of land.
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