Tamil Nadu to come out with new bids to compensate shortfall of current allocations

TN solar investors

CHENNAI, JAN. 25:

Tamilnadu Generation and Distribution Company (Tangedco) will come out with another tender for purchase of solar power soon, a senior official of the company told Business Line today.

The price bids of the current tender will be opened on January 30, he said.

Tangedco recently came out with a tender for the purchase of power generated from solar power plants of total capacity of 1,000 MW. Bids were opened on January 4, and the total bids had amounted to less than 500 MW of capacity.

Now after the price bids are opened, negotiations will take place. Tangedco will first negotiate a price with the bidder who has quoted the least price (L-1), and then ask other bidders to match that price.

After the entire process is over, there will be another tender for the rest of the proposed capacity, the official said. For instance, if the process results in the creation of only 300 MW, the new bid could be for 700 MW, he said.

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Solar, Market, News, Energy, Renewables, India, Environment, India Solar Market, Bridge to India

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