NIT For 1200 MW Wind-Solar Hybrid Projects Tranche-II

SBE Renewable and Mahoba Solar Private Limited were awarded a total 840 MW capacity of the tendered 1200 MW capacity of the Tranche-I tender.

The Solar Energy Corporation of India (SECI) has issued a Notice Inviting Tenders (NIT) inviting online bids for setting up of 1200 MW ISTS-Connected Wind-Solar Hybrid Power Projects (Tranche-II) on a pan India basis.

The detailed Request for Selection Document (RfS) shall be available for downloading latest by March 8, 2019, onwards on www.tcil-india-electronictender.com. 

During its last flurry of tender announcements on the last day of 2018, SECI had issued a similar Request for Selection (RfS) document for setting up of 1200 MW ISTS connected wind-solar hybrid power projects on a “Build Own Operate” basis.

The tender for the project closed on February 2, 2019, and recently SECI revealed the results of the Tranche – I auction.

Two bidders, SBE Renewable Ten Private Limited and Mahoba Solar Private Limited were awarded a total 840 MW capacity of the tender after submitting bids worth 1050 MW.

SBE Renewables has been awarded 450 MW capacity after bidding for the same capacity at a quoted tariff of Rs 2.67/kWh. Mahoba Solar has been awarded 390 MW at Rs 2.69/kWh after submitting a bid for developing half the tendered capacity i.e. 600 MW.

SECI will now enter into a Power Purchase Agreement (PPA) with the two selected project developers for a period of 25 years.

As per the notification, SECI said, “The maximum tariff payable to each is fixed at Rs 2.85/kWh for the entire term of 25 years. The Bidders will be free to avail fiscal incentives like accelerated depreciation, concessional custom duties, tax holidays, etc. available for such projects as per prevailing conditions.”

In a previous auction that was held last year for SECI’s initial attempt at issuing a hybrid project tender, SB Energy had won the project at Rs 2.67 per unit of electricity generated while Adani Green Energy won at Rs 2.69 per unit at the auction. According to an Executive from the SECI, “This is a good price for the first time. Perhaps since it is so because it is the initial estimate. With more optimisation comes competition. It is also dependent on individual efficiencies of panels of turbines, so tariffs will keep falling.”