Published On:April 1 2023
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SECI floats bid for setting up 2,000 MW solar power project.

SECI floats bid for setting up 2,000 MW solar power project.

State-run Solar Energy Corporation of India (SECI) recently floated a request for selection (RfS) document to inviting bids for setting up a 2,000 megawatt (MW) ISTS-connected solar power project.

The project (ISTS-XI) will be under tariff-based competitive bidding (TBCB) and is on a Build Own Operate (BOO) basis. The agency will enter into a 25-year Power Purchase Agreement (PPA) with the successful bidders.

The bidders will be free to avail fiscal incentives like accelerated depreciation, concessional customs and excise duties and tax holidays available for such projects and this will not have any bearing on comparison of bids for selection, SECI said.

The selection of solar PV projects will be carried out through the e-bidding mechanism followed by an e-reverse auction, it added.

A bidder can submit a single bid offering a minimum quantum of contracted capacity of 50 MW and a maximum quantum of 2,000 MW. The projects shall be quoted in multiples of 10 MW only.

In case a common company directly or indirectly holds more than 10 per cent but less than 26 per cent shareholding in more than one bidder participating in the RfS, each of such bidders will be required to submit a disclosure.

The total capacity that can be allocated to a bidder including its parent, affiliate or ultimate parent or any group company shall be up to 2,000 MW.

The responsibility of getting the ISTS connectivity shall entirely be of the developer and shall be at the risk and cost of the developer. The transmission of power up to the point of interconnection where metering is done for energy accounting, shall be the responsibility of the developer at its own cost.

On energy supply, the agency said that the successful bidder or developer will declare the annual Capacity Utilisation Factor (CUF) of the project at the time of submission of response to RfS, and the developer will be allowed to revise the same once within first year after commercial operation date (COD). Thereafter, the CUF for the project shall remain unchanged for the entire term of the PPA.

As of February 2023, a cumulative solar power capacity of 64.38 gigawatts (GW) has been installed in the country. In addition, solar projects of around 51.76 GW capacity are under implementation and another 39.69 GW are under tendering stage.

Overall, India’s renewable energy capacity stood at 168.96 GW as of February 2023, which includes 64.38 GW Solar Power, 51.79 GW Hydro Power, 42.02 GW Wind Power and 10.77 GW Bio Power.

HBL





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