Adani Green Energy and Azure Power have emerged as the successful bidders in SECI’s first manufacturing-linked solar tender
Adani Green Energy and Azure Power have emerged as successful bidders in Solar Energy Corporation of India’s (SECI’s) first manufacturing-linked solar tender, a top government official has confirmed.
Adani has bid for 1.5 GW solar cell manufacturing capacity and 6 GW generation capacity, MNRE Secretary Anand Kumar said on the sidelines of India Energy Forum-Renewable Energy Summit. Adding that Azure Power bid for 500 MW solar cell manufacturing capacity and 2 GW generation capacity.
With the greenshoe option, the capacity for Adani would increase to 2 GW of solar cell manufacturing capacity and 8 GW generation capacity, Kumar said. Whereas for Azure, with greenshoe option, it will be 1,000 MW solar cell manufacturing and 4 GW generation capacity, he added.
“The bids have been finalised and only paperwork remains,” he said adding that the tariff has been fixed at Rs 2.92.
After the successful auction, an investment of around Rs 6,000 crore is expected for setting up 1 GW of solar manufacturing facilities, which would generate permanent direct employment of up to 10,000 people, a source said.
At present, India imports 95 percent of its solar module requirement from China, leading to a forex outflow of around USD 10 billion per year.
The solar power project can be developed anywhere in India and is expected to be commissioned in staggered annual phases of 500 MW each with the first commissioning expected by 2022 and full commissioning by 2025. The power purchase agreement (PPA) allows for the waiver of ISTS transmission charges and improved protections from curtailment.
In December, Azure Power had confirmed that it had received a letter of award (LOA) for a 2 GW interstate transmission (ISTS) solar power project with Solar Energy Corporation of India (SECI) to supply power for 25 years at a tariff of Rs 2.92 per kWh. The capacity was awarded under SECI’s 7 GW manufacturing-linked solar tender.