Latest news with #MadhyaPradeshUrjaVikasNigam
Time of India
3 days ago
- Business
- Time of India
5k MW solar plants of 20k cr to light up MP, banks ink MoUs
Bhopal: Madhya Pradesh is set to develop around 5,000 MW capacity of decentralised solar plants under the Surya Mitra Krishi Feeder Yojana in the state. A Surya Mitra Krishi Feeder Yojana Summit is being organised on June 10 at the Kushabhau Thakre Convention Hall for potential investors. Madhya Pradesh Urja Vikas Nigam (MPUVN) has invited tenders for developing these solar plants across 1900 agricultural feeders in the state. Sources said that an overall 1,200 MW capacity will be eligible for central financial assistance or subsidy, as data of around 2.45 lakh irrigation pumps connected with these agricultural feeders is available. However, as there are several other factors that make the load at each of the sub-stations more than the connected irrigation pumps, making the process flexible, MPUVN has kept it open for the bidders. Bidders could opt for the entire sub-station capacity irrespective of the capacity eligible for central assistance or subsidy. For example, if a sub-station has a potential capacity of 3 MW but only 1.5 MW load of irrigation pumps are connected in the sub-station, then central subsidy will be available only for 1.5 MW. However, MPUVN has sought bids for the entire 3 MW. Thus, the bidder may opt for half of the central assistance, a part of it, the entire amount, or even opt to bid without taking any assistance. The bidder will have to quote the overall price for the entire 3 MW, and the lowest one will be awarded the work of development. "We expect that this will lead to the development of solar projects with a capacity between 3,000 MW and 5000 MW, provided we get reasonable rates. Thus, the investments could be around Rs 20,000 crore. Besides the flexibility for bidders in choosing the portion for which they want central financial assistance, we have also signed MoUs with three banks for assistance in financing the projects. These banks will provide loans for the development of the projects at reasonable rates and within a stipulated period of time," managing director of MP Urja Vikas Nigam , Amanveer Singh Bais, told TOI. Sources said that once a developer wins the bid, an MoU for the procurement of energy for 25 years will be signed with the developer. Bhopal: Madhya Pradesh is set to develop around 5,000 MW capacity of decentralised solar plants under the Surya Mitra Krishi Feeder Yojana in the state. A Surya Mitra Krishi Feeder Yojana Summit is being organised on June 10 at the Kushabhau Thakre Convention Hall for potential investors. Madhya Pradesh Urja Vikas Nigam (MPUVN) has invited tenders for developing these solar plants across 1900 agricultural feeders in the state. Sources said that an overall 1,200 MW capacity will be eligible for central financial assistance or subsidy, as data of around 2.45 lakh irrigation pumps connected with these agricultural feeders is available. However, as there are several other factors that make the load at each of the sub-stations more than the connected irrigation pumps, making the process flexible, MPUVN has kept it open for the bidders. Bidders could opt for the entire sub-station capacity irrespective of the capacity eligible for central assistance or subsidy. For example, if a sub-station has a potential capacity of 3 MW but only 1.5 MW load of irrigation pumps are connected in the sub-station, then central subsidy will be available only for 1.5 MW. However, MPUVN has sought bids for the entire 3 MW. Thus, the bidder may opt for half of the central assistance, a part of it, the entire amount, or even opt to bid without taking any assistance. The bidder will have to quote the overall price for the entire 3 MW, and the lowest one will be awarded the work of development. "We expect that this will lead to the development of solar projects with a capacity between 3,000 MW and 5000 MW, provided we get reasonable rates. Thus, the investments could be around Rs 20,000 crore. Besides the flexibility for bidders in choosing the portion for which they want central financial assistance, we have also signed MoUs with three banks for assistance in financing the projects. These banks will provide loans for the development of the projects at reasonable rates and within a stipulated period of time," managing director of MP Urja Vikas Nigam, Amanveer Singh Bais, told TOI. Sources said that once a developer wins the bid, an MoU for the procurement of energy for 25 years will be signed with the developer.
Time of India
3 days ago
- Business
- Time of India
5k MW solar plants of 20k Cr to light up MP, banks ink MoUs
Bhopal: Madhya Pradesh is set to develop around 5,000 MW capacity of decentralised solar plants under the Surya Mitra Krishi Feeder Yojana in the state. A Surya Mitra Krishi Feeder Yojana Summit is being organised on June 10 at the Kushabhau Thakre Convention Hall for potential investors. Madhya Pradesh Urja Vikas Nigam (MPUVN) has invited tenders for developing these solar plants across 1900 agricultural feeders in the state. Sources said that an overall 1,200 MW capacity will be eligible for central financial assistance or subsidy, as data of around 2.45 lakh irrigation pumps connected with these agricultural feeders is available. However, as there are several other factors that make the load at each of the sub-stations more than the connected irrigation pumps, making the process flexible, MPUVN has kept it open for the bidders. Bidders could opt for the entire sub-station capacity irrespective of the capacity eligible for central assistance or subsidy. For example, if a sub-station has a potential capacity of 3 MW but only 1.5 MW load of irrigation pumps are connected in the sub-station, then central subsidy will be available only for 1.5 MW. However, MPUVN has sought bids for the entire 3 MW. Thus, the bidder may opt for half of the central assistance, a part of it, the entire amount, or even opt to bid without taking any assistance. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Perdagangkan CFD Emas dengan Broker Tepercaya IC Markets Mendaftar Undo The bidder will have to quote the overall price for the entire 3 MW, and the lowest one will be awarded the work of development. "We expect that this will lead to the development of solar projects with a capacity between 3,000 MW and 5000 MW, provided we get reasonable rates. Thus, the investments could be around Rs 20,000 crore. Besides the flexibility for bidders in choosing the portion for which they want central financial assistance, we have also signed MoUs with three banks for assistance in financing the projects. These banks will provide loans for the development of the projects at reasonable rates and within a stipulated period of time," managing director of MP Urja Vikas Nigam, Amanveer Singh Bais, told TOI. Sources said that once a developer wins the bid, an MoU for the procurement of energy for 25 years will be signed with the developer. Bhopal: Madhya Pradesh is set to develop around 5,000 MW capacity of decentralised solar plants under the Surya Mitra Krishi Feeder Yojana in the state. A Surya Mitra Krishi Feeder Yojana Summit is being organised on June 10 at the Kushabhau Thakre Convention Hall for potential investors. Madhya Pradesh Urja Vikas Nigam (MPUVN) has invited tenders for developing these solar plants across 1900 agricultural feeders in the state. Sources said that an overall 1,200 MW capacity will be eligible for central financial assistance or subsidy, as data of around 2.45 lakh irrigation pumps connected with these agricultural feeders is available. However, as there are several other factors that make the load at each of the sub-stations more than the connected irrigation pumps, making the process flexible, MPUVN has kept it open for the bidders. Bidders could opt for the entire sub-station capacity irrespective of the capacity eligible for central assistance or subsidy. For example, if a sub-station has a potential capacity of 3 MW but only 1.5 MW load of irrigation pumps are connected in the sub-station, then central subsidy will be available only for 1.5 MW. However, MPUVN has sought bids for the entire 3 MW. Thus, the bidder may opt for half of the central assistance, a part of it, the entire amount, or even opt to bid without taking any assistance. The bidder will have to quote the overall price for the entire 3 MW, and the lowest one will be awarded the work of development. "We expect that this will lead to the development of solar projects with a capacity between 3,000 MW and 5000 MW, provided we get reasonable rates. Thus, the investments could be around Rs 20,000 crore. Besides the flexibility for bidders in choosing the portion for which they want central financial assistance, we have also signed MoUs with three banks for assistance in financing the projects. These banks will provide loans for the development of the projects at reasonable rates and within a stipulated period of time," managing director of MP Urja Vikas Nigam, Amanveer Singh Bais, told TOI. Sources said that once a developer wins the bid, an MoU for the procurement of energy for 25 years will be signed with the developer.
Time of India
5 days ago
- Business
- Time of India
MP govt to organise summit to promote solar energy on June 10: Official
Bhopal: To speed up its promotion on solar energy further, the Madhya Pradesh government will organise ' Suryamitra Agriculture Feeder Scheme Summit' in Bhopal on June 10, said an official on Friday. Based on the 'vocal for local' vision, the summit will be organised at Kushabhau Thakre convention center aimed at providing developers and stakeholders with detailed information about the bidding process, financial structuring, and technical specifications. "The state is consistently promoting solar energy by commissioning one plant after another, steadily increasing the share of solar energy in its power generation capacity. This summit is a step toward energy self-reliance, farmer empowerment, and clean energy leadership for Madhya Pradesh," the official said. He further stated that the Madhya Pradesh government has set a target for achieving 500 GW of solar capacity by 2030, and efforts are being made to involve different stakeholders, including farmers. "To make agriculture profitable and ensure 10 hours of power supply for irrigation, the state government has already set up around 8,000 dedicated agricultural feeders," the official said. Under the scheme, solar projects can be set up at a cent per cent capacity of the substation load. The Madhya Pradesh Urja Vikas Nigam has already floated tenders for the selection of developers for these projects. These projects will be operated under 25-year Power Purchase Agreements (PPAs) with the government. "An important aspect of solar energy is generating and utilising it at the point of consumption," he added. He further informed that to meet the energy needs of farmers, especially for irrigation by generating solar energy near their fields and creating income opportunities, the Ministry of New and Renewable Energy is implementing the PM-KUSUM Scheme .
