UPERC Approves PPAs For 110 MW Solar Projects At Rs 2.65/kWh

17 Jul 2026 CW Team

The Uttar Pradesh Electricity Regulatory Commission (UPERC) approved two power purchase agreements for 110 MW of grid connected solar capacity under Petition No. 2360 of 2026. A bench led by chairman Arvind Kumar and member Sanjay Kumar Singh confirmed the tariffs discovered through competitive bidding and authorised projects at Kanpur Dehat and Kanpur Nagar. The decision clears regulatory approvals required for project implementation.

The petition was jointly filed by the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) and the Uttar Pradesh Power Corporation Limited (UPPCL) to approve PPAs and tariffs from tariff based competitive bidding. The tender opened in April 2025 after Ministry of New and Renewable Energy (MNRE) approvals and attracted seven techno commercial bids, of which six qualified. One bidder was disqualified for failing to submit the earnest money deposit.

Financial bids were opened after technical evaluation and an electronic reverse auction in September 2025 finalised the tariffs, with Vedu Infrastructure Private Limited emerging as the lowest bidder for both sites. The tariff for the 75 MW Kanpur Dehat plant was fixed at Rs 2.65 per kWh and the 35 MW Kanpur Nagar Solar Park at Rs 2.71 per kWh. Letters of award issued in November 2025 led the successful bidder to incorporate two Special Purpose Vehicles (SPVs) to execute the projects.

The SPVs furnished performance bank guarantees as specified in the bidding documents, equivalent to Rs 150 million (mn) and Rs 70 mn for the larger and smaller entities respectively. The PPAs between UPPCL and the two SPVs were signed on January 16, 2026 and UPERC observed that the procurement complied with government guidelines and standards of fairness. The commission approved the tariffs as fixed for the 25 year term from the scheduled commercial operation date and directed that only modules and cells listed under the Approved Models and Manufacturers of Solar Photovoltaic Modules list be used.

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