The Gujarat power regulator’s decision to make February auction’s all-time low winning bid as the base price for wind power purchases has forced developers and power distribution companies in Gujarat make an unhappy truce, but it sets stage for further trouble in the fledgling sector.
In a similar case in Andhra Pradesh, the state’s power regulator took a contrary position. Ignoring the wind auction, it set wind tariffs for 2017-18 at Rs 4.35 per kWh for projects which use the accelerated depreciation (AD) benefit and Rs 4.76 per kWh for those which do not.
Before the auction, discoms purchased wind power at prices fixed every year by the state’s power regulator. Accordingly, the GERC had set the tariff at Rs 4.19 per kWh for 2016-17.
The GERC’s fresh suggestion threw into jeopardy around 216 MW of wind power projects, which had been completed but awaiting signing of PPAs with discoms. These power generators had formulated their business plans expecting a tariff of Rs 4.19 per kWh and discoms refused to sign PPAs at tariffs higher than Rs 3.46 per kWh. Developers have now accepted the new price, but fate of the remaining 130 MW is still undecided.
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