According to UPERC, while lower tariffs for solar power would reduce the overall power purchase cost of the discoms, it would help UPPCL in meeting its Renewable Purchase Obligation (RPO) and the state in harnessing the potential of solar power.
Earlier this month, the Commission, while disposing of another petition filed jointly by UPPCL/discoms and UPNEDA, had fixed solar power tariff
of Rs 3.17 per unit to Rs 3.23 per unit for the procurement of 500 mw through competitive bidding process. The capacity of the approved solar projects ranged between 20 mw and 140 mw.
A press release of UPERC said successive reduction in solar power tariffs in the state to the current level of approximately Rs 3 to Rs 3.23 per unit would “significantly enhance the solar portfolio basket of the licensees at a very cost effective price. This will help the licensees in a big way to achieve their RPO trajectory.”
Last month, the state had cleared the proposal of renewable energy majors ReNew Power and Shapoorji Pallonji to collectively invest nearly Rs 750 crore in a 150 mw floating solar power project in UP. The project would come up at the existing Rihand hydro power project of UP Jal Vidyut Nigam Limited (UPJVNL) in Sonbhadra district.