Shapoorji Pallonji, a Solar project developer, has won SECI’s ( Solar Energy Corporation of India ) bid of developing 50 MW of India’s first large-scale floating project on the Rihand Dam in the border of Uttar Pradesh and Madhya Pradesh.
With this triumph, Shapoorji Pallonji has entered in a 25-year power sale agreement with the Uttar Pradesh Power Corporation Limited (UPPCL).
It will be set up at the Rihand Dam, also called Govind Ballabh Pant Sagar, which is India’s largest artificial lake and the largest reservoir by volume. The current project will also use the existing transmission facilities as the hydropower station of the Rihand dam.
There is a report by officials that Shapoorji won the reverse auction for 50 MW in March 2018 and quoted the upper tariff of Rs 3.29 per unit. Though SECI had measured floating tender for such a project two years before but did not proceed with it as early inquiries proved tariffs at the range of rs seven to eight per unit.
Also, reports suggest that the remaining 100 MW will also be auctioned in two 50 MW blocks. As per the statement of a SECI official, “We had considered bringing out such a tender two years earlier, but our initial inquiries showed tariffs would have been in the range of Rs 7-8 per unit, and so we decided not to go ahead.”
“The cost of the Rihand floating solar project was 10 per cent higher than the ground-mounted ones, and it was in line with the expectations,” said Vinay Rustagi, Managing Director at Solar Consultancy Bridge To India. It is believed that the floating solar project will help bring down the problems in acquiring land to set up projects otherwise.