Mahavitaran will try to access more green power to meet rising demands for power.
Mumbai: In a bid to meet the rising demands for power in the state, Mahavitaran is trying to access more power from green sources and will be setting up solar plants with a capacity to produce 3,000 MW energy in two years.
The company has initiated the bidding process and expects to bring down per unit price of power by Rs 3 per unit for the next 25 years.
Solar power rates are decreasing in international and domestic markets. In fact, solar energy is the cheapest form of green energy available. Hence, Mahavitaran has decided to set up solar power plants across the state.
Private companies will set up these plants and the power will be purchased by the Mahavitaran company.
The company had invited tenders for 1,000 MW recently and it received the cheapest rate of Rs 2.71 per unit, said officials of the company.
The company will get 500 MW solar power in the next six months, Mahavitaran MD Sanjeev Kumar told The Asian Age.
In the bidding process, JLTM Energy (20MW) and Mahoba Solar Private Ltd quoted the lowest rate of Rs 2.71 per unit. ReNew Solar Pvt. Ltd. (250 MW), ACME Solar Holding Ltd, Tata power Renewable Energy Ltd (150 MW) and Azure power (150 MW) quoted a rate of Rs 2.72 per unit.
These rates are much lower than the bid conducted by NTPC and other states, said officers of the Mahavitaran company.