Daily News Wrap-Up: SECI Tenders 400 MW Wind-Solar Hybrid Projects

KPI Green secures ₹6.86 billion funding for 200 MW solar project

July 1, 2024


The Solar Energy Corporation of India has invited bids to develop 400 MW of interstate transmission system-connected wind-solar hybrid power projects (Tranche IX). The projects must be commissioned within 24 months of signing the power purchase agreement. The last day to submit the bids is July 29, 2024. Bids will be opened on August 1. The cost of the bidding documents is ₹50,000 (~$599). The bid processing fee is ₹20,000 (~$239)/ MW. Bidders must furnish an earnest money deposit of ₹942,000 (~$11,302) x rated cumulative installed capacity of solar component in MW + ₹1.29 million (~$15,476) x rated cumulative installed capacity of wind component in MW.

Renewable energy solutions provider KPI Green Energy has secured a credit facility of ₹6.86 billion (~$82.1 million) to develop a 200 MW solar photovoltaic power project in Khavda, Kutch District. The credit facility comes after the company recently raised ₹3 billion (~$36.08 million) through qualified institutions placement. The company’s board had approved the issuance and allotment of 2.54 million equity shares to qualified institutional buyers at the issue price of ₹1,183 (~$14.23) per equity share against the floor price of ₹1,245 (~$14.97).

The Tamil Nadu Electricity Regulatory Commission has released draft regulations aimed at tightening the process to verify if power projects qualify as captive generating projects (CGP). The draft regulations have proposed that distribution licensees conduct an annual verification after each financial year to assess compliance with ownership and consumption criteria per the Electricity Rules, 2005. CGPs must maintain the minimum 26% ownership requirement throughout the financial year to establish ownership.


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