09 Sep 2024
The Gujarat Electricity Regulatory Commission (GERC) has established a levelized tariff of Rs 2.84 per kWh for wind power projects with capacities under 10 MW, which are commissioned between June 6, 2022, and March 31, 2027.
These projects will have a 25-year operational lifespan from the date of commissioning. The depreciation rates are set at 60% for the first year, 4.67% annually for the first 15 years, and 2% annually for the subsequent 10 years. For wind projects with capacities below 10 MW, the normative benchmark capital cost is set at Rs 70 million per MW. Additionally, the operations and maintenance costs are fixed at Rs 700,000 per MW for the initial year, with a 3.84% annual escalation rate.
Developers may receive financial support, incentives, or subsidies from central or state governments. To ensure compliance with construction timelines, GERC requires wind power project developers to provide a bank guarantee of Rs 1 million per MW to the Gujarat Energy Transmission Corporation.
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