Mahagenco has planned to set up a 50MW solar project in Baramati on a public-private partnership basis, in which the power producer will have to build, operate and maintain the plant for 25 years and even share revenue with the state power generation company.
"This is for the first time that we are trying out this model. We have so far received three bids from Tata Power, Welspun Energy and Essel Power," said Mahagenco MD, Asheesh Sharma.
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On the revenue sharing model, Sharma explained, "The producer will receive a revenue share over a period of 25 years based on the Merc approved tariff. This revenue share between the bidder and Mahangenco will be discovered through the bidding process."
For the project, Mahagenco will arrange the land, get the necessary approvals and distribution infrastructure. "Under this model, Mahagenco will pay Rs 3 crore per megawatt as its contribution till the commissioning of the project. Once the project is commissioned and revenue starts generating, the developer will have to share some percentage of the income with us, which will be decided later," he said.
Mahagenco's investment into the project would be financed by the Asian Development Bank. Deloitte is advising Mahagenco to develop the bidding process. The state power generator has built solar capacity of 125 mw at Sakri in Dhule district and plans to add another 25MW there.
"We wish to take the capacity in Sakri to 150MW from the current 125MW. We expect to add 25MW in the next three-four months. If the new PPP model is successful, we will then look at setting up another 200-250MW capacity by FY15," Sharma added.
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