UPNEDA awards 980.3 MW solar contracts to 26 firms under PM-KUSUM

The Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) has issued Letters of Award (LoAs) to 26 firms for developing a total of 980.3 MW grid-connected solar power plants under the Renewable Energy Service Company (RESCO) model. These projects, awarded under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) scheme, will be set up across various locations in Uttar Pradesh.

List of winning firms and awarded capacities:

• Inderjit Mehta Constructions Private Limited won 222.7 MW at a tariff range of Rs 2.41-2.87 per kWh.
• NACOF Oorja Private Limited (NOPL) secured 150.6 MW at Rs 2.98-2.99 per kWh.
• National Federation of Farmers Procurement Processing and Retailing Cooperative of India Limited (NACOF) received 53 MW at Rs 2.90-2.95 per kWh.
• Fusionx Asia Pacific Private Limited won 79.1 MW at Rs 2.80-2.85 per kWh.
• A1 Agriglobal Limited secured 57.5 MW at Rs 2.90 per kWh.
• Raghuvir Avenues Private Limited received 54.6 MW at Rs 2.95-2.98 per kWh.
• Shri Mahavir Ferro Alloys Private Limited won 28.6 MW at Rs 2.90-2.95 per kWh.
• Rvg Green Energy Private Limited secured 27.6 MW at Rs 2.99 per kWh.
• Irp Infra Tech Pvt Ltd won 26.7 MW at Rs 2.90-2.95 per kWh.
• Armee Infotech Limited secured 24.1 MW at Rs 2.97 per kWh.
• Rajasthan Developers and Consultant Private Limited won 22.2 MW at Rs 2.86-2.97 per kWh.
• Qaagility Technologies Private Limited secured 20.5 MW at Rs 2.83-2.90 per kWh.
• M/s Singh Solar and Power Co received 18.2 MW at Rs 2.67-2.78 per kWh.
• Agrawal Renewable Energy Private Limited won 18 MW at Rs 2.48-2.74 per kWh.
• GH2 Solar Private Limited secured 16 MW at Rs 2.99 per kWh.
• Navayuga Engineering Company Limited won 14.2 MW at Rs 2.97 per kWh.
• M/s Vijay Shree Steel Industries secured 13.7 MW at Rs 2.99 per kWh.
• Synergy Wave System LLP won 12.6 MW at Rs 2.85 per kWh.
• Marshall Energy Private Limited secured 12.4 MW at Rs 2.85-2.95 per kWh.
• M/s Harmendra Singh received 24.1 MW at Rs 2.94 per kWh.
• M/s Jitendra Kumar secured 22.4 MW at Rs 2.86-2.99 per kWh.
• M/s Henu won 16.3 MW at Rs 2.68-2.70 per kWh.
• M/s Payal Jain received 12.4 MW at Rs 2.80 per kWh.
• M/s Ritesh Sinha secured 11.6 MW at Rs 2.86 per kWh.
• M/s Reetu Meel won 11 MW at Rs 2.20-2.87 per kWh.
• M/s Devendra Pal Singh received 10.2 MW at Rs 2.88 per kWh.

Project scope and funding

UPNEDA initially invited bids in July 2024 for 3,205 MW, later revised to 2,553.5 MW. The projects will involve designing, engineering, supplying, constructing, and commissioning grid-connected solar power plants and setting up substation bays and switchgear. The plants will be used to solarize agricultural feeders at distribution substations, with the generated power sold to Uttar Pradesh Power Corporation Limited (UPPCL) under the RESCO model.

UPPCL will sign power purchase agreements (PPAs) with selected bidders for 25 years. The Central Government will provide Central Financial Assistance (CFA) of Rs 10.5 million per MW, while the Uttar Pradesh Government will offer viability gap funding (VGF) of Rs 5 million per MW.

The projects are expected to be completed within 12 months from receiving the LoA.