UPERC approved UPPCL’s 25-year PPA with MB Power for 300 MW of solar power at ₹2.57/kWh. The project was awarded through tariff-based competitive bidding under a 2,000 MW solar procurement process. Following an approved merger of the original bidder, Fastnote Biofuels, with MB Power, UPERC adopted the discovered tariff under Section 63 of the Electricity Act.
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