A wholly-owned subsidiary of Tata Power Co. Ltd has bid for two solar power plants in Maharashtra, according to a latest Mint report citing sources.
The power company has bid for two separate projects, totaling 400 megawatts (MW). A source told Mint that an investment of Rs 2,000 crore may be involved in these projects. However, bid strategy and other investment and commercial terms are still being worked out.
According to an Economist Times report the Maharashtra State Electricity Distribution Co. Ltd (MSEDCL) had announced bids for 1,000 MW (1 gigawatt) of solar power projects in December 2017 but the auction got cancelled four times.
Reportedly after adding a clause that allows winning bidders to revise tariffs and recover any safeguard duties imposed in future, the company has reintroduced the tender once again this month. The tariff rate has been set at Rs 3 per unit, according to the tender sheet as viewed by Mint.
