Anil Ambani’s power discoms to buy 700 MW of green power.

Delhi electricity distribution companies BSES Yamuna Power Ltd. and BSES Rajdhani Power Ltd. will buy 700 MW of renewable power through an online reverse auction. The power distribution companies plan to procure renewable power at under Rs. 5 per unit and expect to reduce their cost by Rs. 200 crore to meet their renewable purchase obligations.

'This will open a new avenue of procuring power at competitive rates from renewable sources,' a BSES spokesperson said. 'The whole process is ultimately going to help consumers in a getting a cleaner energy at competitive rates and keep the retail tariffs low.'

The Anil Ambani-owned BSES firms expect to close deals with winning firms early in February.

'The discoms have been exploring options to procure the renewable energy at competitive rates, so it doesn't unduly burden the consumers of BSES while meeting the renewable purchase obligation targets,' the spokesperson said. As per the guidelines of power regulator Delhi Electricity Regulatory Commission (DERC), Delhi discoms need to procure at least 9% of electricity from renewable sources, of which 0.35% should be from solar plants by 2016-17.

ET