Tamil Nadu Electricity Regulatory Commissionhas given its nod to the Tamil Nadu Generation and Distribution Corporation for procurement of 500 MW of solar power through competitive bidding. The approval sought by TANGEDCO for procurement of solar power for a quantum of 500 MW was to meet the solar renewable purchase obligation of 5 per cent fixed for 2017-18, TNERC said in its order of August 29.
TANGEDCO had sought to procure the power through reverse bidding with Rs. 5.10 per unit as upper limit. TNERC said it approved the proposal and TANGEDCO would have the liberty to restrict the purchase below the specified limit after a prudence check with respect to the energy consumption and reduction of energy generated from hydro sources.