SECI has issued an amendment for its manufacturing linked solar tender, increasing the capacity of projects to be awarded from 6 GW to 7 GW.
The Solar Energy Corporation of India (SECI) has issued an amendment for its manufacturing linked solar tender, increasing the capacity of projects to be awarded under the tender from 6 GW to 7 GW.
With that change, the new tender is seeking developers for setting up of 7 GW of ISTS-connected solar PV projects linked with 2 GW (annual) of solar manufacturing component.
Last week, the agency had extended the bid submission deadline on the tender for the umpteenth time. Extending the deadline for bid submission from October 11, 2019, to October 31, 2019. According to the new amendments, the bid submission deadline will remain the same i.e. October 31, 2019.
However, the new amended RfS will feature a higher ceiling tariff that will be payable to the project developers. Increasing the maximum tariff payable to the solar developer to Rs 2.93 from Rs 2.75/ kWh. Perhaps, as a move to invite more active participation from the industry leaders who have so far been vary of the risks involved.
- SECI will provide a “green-shoe option” to the successful bidders or developers equivalent to the capacity won by them. To avail the green-shoe option, the successful bidders need to match the lowest tariff of the respective bidding packages.
- The developers will be provided PPAs for up to 2,000 MW capacity against 500 MW of solar manufacturing component under Bidding Package-A and up to 1,500 MW against 500 MW of solar manufacturing projects under Bidding Package-B.
- The developers would be allowed to set up ISTS-connected solar projects in parallel with setting up of the manufacturing facility.
- The solar PV power projects will be allowed staggered commissioning over a period of five years under Bidding Package-A and four years under Bidding Package-B.
The amendments to the tender have been made following the first pre-bid meeting that was recently conducted by SECI. The agency has now scheduled a second pre-bid meeting to discuss the new RfS with the prospective developers/ bidders on October 17, 2019.
For more information and the full list of amendments click here.