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Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) has approved the procurement of 700 MW of solar power from the Solar Energy Corporation of India (SECI) at a tariff of ₹2.63/kWh, which includes a trading margin of ₹0.07/kWh.

This procurement, executed through a Power Sale Agreement (PSA) on 8 October 2024, will count toward MSEDCL's Renewable Purchase Obligation (RPO) compliance. The solar power is sourced from JSW Neo Energy Ltd., with the project connected to the intra-state transmission system in Maharashtra.

MSEDCL's decision aligns with its Resource Adequacy Plan, necessary for meeting future RPO targets projected to rise to 43.33% by FY 2029-30. The tariff was determined through a competitive bidding process and has been adopted by the Central Electricity Regulatory Commission (CERC). Additionally, MSEDCL is required to submit a plan for energy storage to manage surplus generation.