APTRANSCO recently published a notification intimating the closure of Solar bidding process. As per the notification, all those bidders who have decided not to go ahead with the tariff of Rs.6.49/unit are required to collect their BGs from APTRANSCO in person or can request the same to be sent through post. The last date for collecting the BGs has been mentioned as 19-08-2013. The notification may be downloaded here.
As previously intimated by APTRANSCO, those who have not participated in the bidding process may also come forward to setup Solar Power plants and sell power to the DISCOMs at Rs.6.49/unit. While this has not yet started, a notification by APTRANSCO is soon expected in this regard.
Though there have been news about more than 350 MW being agreed to for the APTRANSCO tariff of Rs.6.49/unit, it is not yet clear how many bidders have finally decided to go ahead with the tariff. Those bidders who have already collected the LoI also seem to be re-thinking about their plans to go ahead. Reasons for the same were cited as unavailability of low-cost funding for projects of smaller size (5 MW or less) and tariff not being financially viable for setup cost more than Rs.6 Crores/MW. Not being able to avail Accelerated Depreciation benefit is also proving to be a major disadvantage for new entrants who do not have profits to offset.
It might be a few more weeks before the complete picture emerges. Keep checking our blog for more updates.
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