A Power Purchase Agreement (PPA) was signed between Madhya Pradesh Power Management Company and MK Solar Energy (MP) Private Limited at Jabalpur the other day. Due to it, Madhya Pradesh will get 25 MW solar power.
The PPA was signed in the presence of the Company’s Managing Director Manu Shrivastava by company’s Executive Director (Investment Promotion Cell) Rajesh Mehta and by Ankur Kumar on behalf of MK Solar Energy.
MK Solar Energy Private Limited is establishing a 25 MW solar power plant at village Bagheli in Rajgarh district. Madhya Pradesh will start receiving 25 MW power from this plant from September 2013. Per unit tariff of solar power has been fixed at `8.05, which will remain effective for 25 years.
Company’s Managing Director informed that MoUs have also been signed as per norms of Madhya Pradesh Electricity Regulatory Commission with three private sector companies while power purchase agreement has been signed with Solar Energy (M.P.) Private Limited, Gurgaon. PPAs will soon be signed with remaining two companies including Wellspun and Majorware group.
Besides reduction of pollution, solar energy will also ensure availability of more power in the state. This power will be received at `8.05 per unit for the next 25 years. As a result, its existing average cost comes to around `2.70 per unit, which is quite low.
Company’s Executive Director (Power Management) KC Badkul, Chief General Manager (Commercial) AB Vajpayee, Bansagar Thermal Power Company Limited’s Chief Executive Officer Rajiv Shrivastava, company’s Chief General Manager (HR) Ravindra Dwivedi, RD Saxena and Naveen Kohli were also present on the occasion.