Published On:August 13 2019
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Green Mega Power Projects On The Anvil

The government is planning large renewable energy projects like the coal-based ultra-mega power project s (UMPPs) through the publicprivate-partnership route. 

The renewable power projects may include any renewable source of generation or a combination of them. The plants are likely to be 1,800 MW in capacity, which can be spread over three areas of 600 MW each, and the power purchase agreements (PPAs) will be for 25 years, a senior government official said. 

Industry insiders, however, are skeptical about the idea of such ultra-mega renewable power projects as recent auctions of solar power contracts received tepid response. A tender by the Solar Energy Corporation of India (SECI) for 1,200 MW solar power purchase received bids from SoftBank-backed SB Energy and Chennai-based GRT Jewellers. 

Though SECI guarantees payments, the tariff ceiling is fixed at Rs 2.65 per unit. An NTPC tender for 1200 MW, too, received poor response, forcing the company to extend the deadline. 

The power tariff renegotiation bid by Andhra Pradesh has left investors nervous about taking up the otherwise lucrative projects. 

The government is planning to allocate the responsibility of site identification to all central public sector undertakings (CPSUs) in the energy space, including NTPC Ltd, SECI, Power Finance Corp and NHPC Ltd. Each CPSU may be given charge of two-three states. They will float joint ventures with the state governments and set up special purpose vehicles (SPVs). 

The states will help the SPVs secure land and regulatory clearances. The Centre is working on two-three models for sharing of profit between the CPSUs and the states. The states will receive 2 paise per unit for 25 years as yearly income on generation. 



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