Mytrah Energy (India) Pvt Ltd (MEIPL) and Solar Energy Corporation of India (SECI) have entered into a Power Purchase Agreement (PPA) for setting up a 300 MW wind power plant in the Coimbatore district of Tamil Nadu.
Mytrah Energy’s winning bid for 300MW of capacity was part of the fourth tranche of SECI ISTS wind reverse auctions. Eleven companies had participated in the reverse bidding, collectively submitting quotes for a cumulative capacity of 2,633.2 MW. Mytrah quoted a tariff of `2.52/kwh for its winning bid.
Vikram Kailas, VC and MD of Mytrah Energy, said, “This win marks another success in Mytrah Energy’s continuing journey towards building a strong, well-diversified portfolio of wind power assets. We are confident about executing the project in a timely manner using our in-house technology and asset management capabilities to generate meaningful returns for stakeholders. This round of auctions further reinforces the continuing commitment of India’s renewable power sector and helping the country realise its growth aspirations while also contributing towards a greener tomorrow.”
Projects awarded under Tranche IV of the SECI auctions have to be commissioned within eighteen months from the effective date of the PPA and not the date of the Letter of Award. Developers have welcomed this change since it aligns more closely with the project execution schedule.