SECI Scores 9 Bids Worth 3.5 GW in Response to 1.2 GW Solar Tender

SECI has reported a list of 9 bidders who have submitted bids against the nodal agencies 1.2 GW solar tender (ISTS-VIII) which was issued in January.

The Solar Energy Corporation of India (SECI) has reported a list of nine bidders who have submitted prospective bids against the nodal agencies 1.2 GW solar tender (ISTS-VIII) which was issued in January.

The nine firms that have submitted bids are ReNew Power, Softbank, Avaada, O2 Power, Brookefield, Eden, Tata, Ayana, and IB Solar, with total proposals submitted for 3.5 GW. ReNew Power and Softbank-backed SB Energy submitted the biggest bids at 600 MW each, behind them Avaada submitted a lone bid for 500 MW. The remaining six bidders each submitted bids for 300 MW capacity each.

Recently, SECI had made amendments to the power purchase and sale agreement for this solar tender, adding another point to the existing ‘change in law’ clause. According to the amended clause, in case of a change in the law on account of anti-dumping duty or safeguard duty or customs duty on the solar modules, the project developers will be entitled to either an increase or decrease in the tariff.

As per the RfS, the successful solar power developers (SPDs) will enter into a 25-year power purchase agreement (PPA) with SECI, and the maximum tariff payable to them is fixed at Rs 2.78/kWh. And the projects will be set up on Build Own Operate (BOO) basis anywhere in India.

Earlier this month, we had reported that the Greenko Group and ReNew Power had won with their bids in SECI‘s 1.2 GW wind-solar hybrid power projects with energy storage tender and guaranteed peak power supply. The Greenko Group has been awarded 900 MW capacity in the tender after submitting a bid at a peak power tariff rate of Rs 6.12/ kWh While ReNew Power has been awarded 300 MW capacity of projects after submitting bids with a peak power tariff of Rs 6.85/ kWh.

In August 2019, the nodal agency had issued the tender for setting up of 1200 MW ISTS-connected Renewable Energy (RE) projects on a Build-Own-Operate (BOO) basis with assured peak power supply in India. (ISTS-VII)