SECI Invites Bids for 2 GW Solar PV Projects with Integrated ESS

The Solar Energy Corporation of India (SECI) released a new Request for Selection (RfS) on inviting bids from developers to set up 2,000 MW of ISTS-connected solar photovoltaic (PV) power projects integrated with 1,000 MW/4,000 MWh of Energy Storage Systems (ESS).

Project Scope

The scope of the project includes the installation of solar PV technology and co-located Energy Storage System (ESS). The minimum storage requirement of the ESS is 0.5 MW/2 MWh per 1 MW of solar capacity. 

The total contracted capacity per bidder is capped at 1,000 MW, with a minimum bid size of 50 MW in multiples of 10 MW. Note that the bidders can propose projects in locations of their choice, ensuring connectivity with the ISTS network or, where relevant, the InSTS network, based on the location of the buying entities.

The power generated under this scheme, including the energy discharged from ESS charged using solar, will be considered for Renewable Purchase Obligation (RPO) compliance. 

Other Technicalities

The ESS component will also help meet Energy Storage Obligations (ESO) as defined by government notifications. The buying entity is mandated to offtake energy during peak hours, with developers required to supply 2,000 kWh of energy per MW contracted capacity on a daily basis during four-hour peak windows.

The Earnest Money Deposit (EMD) is set at INE 14,24,000 per MW per project, which must be submitted in the form of a bank guarantee, POI (Payment on Order Instrument), or surety bond. 

The selected bidders will be required to generate a Performance Bank Guarantee (PBG) of INR 35,60,000 per MW before signing the Power Purchase Agreement (PPA) that will be valid for 12 months beyond the Scheduled Commissioning Date (SCSD). 

The SCSD is 24 months from the effective date of the PPA. In addition, a six-month grace period is allowed, though it comes with proportional encashment of the PBG in case of delays.

Key financial conditions have also been outlined in the notice.

SECI will serve as the intermediary nodal agency for power procurement and resale to buying entities, with power purchase agreements valid for 25 years. The projects are to be developed on a Build-Own-Operate (BOO) basis and will follow a tariff-based competitive bidding process.