-Eleven companies had participated in the reverse bidding, collectively submitting quotes for a cumulative capacity of 2633.2 MW
-Mytrah won the bid to set up a 300 MW wind power project at a tariff of INR 2.52/kwh
Hyderabad, September 17, 2018: Mytrah Energy (India) Pvt Ltd (MEIPL), India’s leading independent power producer, has entered into a Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) for setting up a 300 MW wind power plant. The proposed site for the project is in the Coimbatore district of Tamil Nadu.
Mytrah Energy’s winning bid for 300MW of capacity was part of the fourth tranche of SECI ISTS wind reverse auctions. Eleven companies had participated in the reverse bidding, collectively submitting quotes for a cumulative capacity of 2633.2 MW. Mytrah quoted a tariff of INR 2.52/kwh for its winning bid.
Vikram Kailas, VC and MD of Mytrah Energy, said, “This win marks another success in Mytrah Energy’s continuing journey towards building a strong, well-diversified portfolio of wind power assets. We are confident about executing the project in a timely manner using our in-house technology and asset management capabilities to generate meaningful returns for stakeholders. This round of auctions further reinforces the continuing commitment of India’s renewable power sector and helping the country realize its growth aspirations while also contributing towards a greener tomorrow.”
Projects awarded under Tranche IV of the SECI auctions have to be commissioned within eighteen months from the effective date of the PPA and not the date of the Letter of Award. Developers have welcomed this change since it aligns more closely with the project execution schedule.
Mytrah Energy (India) Private Limited is one of India’s leading renewable Independent Power Producers and a pioneer in this space. The company has over 40 projects (operational and under-development) in the wind and solar power segments across nine Indian states (Punjab, Rajasthan, Gujarat, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka and Tamil Nadu) with an aggregate capacity of 2.2 GW. The company also has a fast-growing portfolio of rooftop solar projects across the country. Mytrah has pioneered the adoption of technology across the entire renewable power development and generation value chain, be it by building the country’s largest wind data bank using over 200 wind mast locations pan-India, or by driving efficient management of power assets through its state-of-the-art Generation Management Centre. As India’s Smart Utility Company, Mytrah leverages its robust end-to-end capabilities ranging from site selection to financing, procurement, project execution and asset management, to efficiently generate clean power from its portfolio of renewable power assets.