FY23’s Final Big Tender Is SECI’s Tender For 2000 MW ISTS Connected Solar Projects

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The Solar Energy Corporation of India (SECI) has issued atender for the selection of solar power developers for setting up of 2000 MW (2GW) inter-state transmission system ISTS-connected solar power projects in India. The tender is issued for Tranche XI. The tender follows a noticeable slowdown in fresh issue of tenders, as SECI focused on signing PSA’s (Power Sales Agreement) for previously allotted tenders.

May 10, 2023 is the last date for submission of bids. Also, bids will be opened on May 15.

The bidders must submit the Earnest Money Deposit of Rs 11 lakh for every MW of the quoted capacity. SECI has kept the processing fee at Rs 500,000 with 18% GST for each project from 50 MW up to 90 MW. The processing fee is Rs 15 lakh with 18% GST for projects 100 MW and above capacities.

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The SECI tender has also called for the submission of performance bank guarantee for a value of Rs 17 lakh/MW before the PPA is inked and the PPAs will be valid for 25 years from the scheduled commissioning date of the solar power projects.

Project Requirements

The SECI tender demands developers to commission the project’s total capacity within 18 months from the effective date of PPA. Keep in mind that following issues with finding buyers for some of its previous tenders, SECI signs PPA only after finding buyers, or signing the PSA’s for some time now.

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A bidder or its affiliates can submit only one bid. The minimum contracted capacity of 50 MW and a maximum capacity of 2 GW should be offered by a bid. SECI tender demands bids for the projects to be quoted in multiples of 10 MW only.

Identification of suitable land, installation of project and acquisition of ownership of the project will be the responsibility of the bidder. A bidder will also have to ensure that the necessary approvals and connectivity with the ISTS network are obtained for supplying power to SECI.

The tender specifies use of only ALMM listed solar modules, ignoring the recent extension of deadline for using ALMM only modules to April 2024 .

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SECI is widely expected to issue more Hybrid, and storage linked or RTC (Round the clock) tenders going ahead, as the focus shifts to managing the transition to a higher share of renewables in the grid as well as for many buying discoms around the country.

The last few solar tenders have attracted bids ranging from Rs 2.35 to Rs 2.90/kW from state entities. Assuming the advantage SECI enjoys as a central entity, the bids on this tender should be very interesting indeed, with many industry players indicating recently that bids at Rs 2.40 and above are close to viability again after a recent softening of equipment costs.