Kolkata: Power utility CESC Ltd on Tuesday said its subsidiary, Purvah Green Power Pvt Ltd, has received a Letter of Award (LoA) from Solar Energy Corporation of India Ltd (SECI) for developing a 300 MW solar power project integrated with an energy storage system.
In a regulatory filing, the company said the LoA was issued on October 27, and Purvah has duly acknowledged its receipt and acceptance.
The selection was made under SECI's Request for Selection for setting up 2,000 MW of inter-state transmission system (ISTS)-connected solar PV power projects, coupled with 1,000 MW/4,000 MWh of energy storage systems across India.
The project has been awarded under the 'Guidelines for Tariff-Based Competitive Bidding Process for Procurement of Firm and Dispatchable Power from Grid-Connected Renewable Energy Power Projects with Energy Storage Systems,' issued by the Ministry of Power in June 2023.
The contract, awarded for a period of 25 years, is based on a tariff of Rs 2.86 per kWh.
The project is domestic in nature and falls outside the scope of related-party transactions, the Kolkata-based utility.
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