SECI Floats Tender for 1 GW ISTS-connected Solar Projects

The last date to submit the bids is November 20


The Solar Energy Corporation of India (SECI) has issued a tender to select solar power developers for setting up 1 GW inter-state transmission system (ISTS)-connected solar projects (Tranche XII) in India.

The last date to submit the bids is November 20, 2023. Bids will be opened on November 23.

The bidders must submit an amount of ₹928,000 (~$11,147) per MW of the quoted capacity as an earnest money deposit.

Bidders must also submit a bid processing fee worth ₹500,000 (~$6,006) plus 18% GST for each project from 50 MW up to 90 MW and ₹1.5 million (~$18,018) plus 18% GST for projects with capacity from 100 MW and above.

Bidders must submit a performance bank guarantee for a value of ₹2.32 million (~$27,869)/ MW before the power purchase agreement (PPA) is signed.

The PPAs will be valid for 25 years from the scheduled commissioning date of the projects. Power procured by SECI from the projects concerned will be sold to different buying entities in India.

Developers must commission the project’s total capacity within 24 months from the effective PPA date.

A bidder or its affiliates can submit only one bid. This bid must offer a minimum contracted capacity of 50 MW and a maximum of 500 MW. Bids must be quoted in multiples of 10 MW only.

Bidders will be responsible for identifying suitable land, installing the project, and acquiring ownership of it, as well as ensuring that the necessary approvals and connectivity with the ISTS network are obtained for supplying power to SECI.

The modules used in the project must be listed in the Ministry of New and Renewable Energy’s (MNRE) Approved List for Models and Manufacturers List.

Bidders must provide evidence of meeting commercially established and operational technologies to minimize the risk associated with technology and ensure the timely commissioning of the projects.

The net worth of bidders should be equal to or greater than ₹9.28 million (~$111,474)/MW of the quoted capacity as of the last date of the previous financial year.

The minimum annual turnover of the bidders should be at least ₹3.87 million (~$46,487)/MW of the quoted capacity during the last financial year.

The internal resource generation capability in the form of profit before depreciation, interest, and taxes should be at least ₹775,000 (~$9,309)/MW of the quoted capacity as of the last day of the previous financial year.

Bidders should have approval from lending institutions committing a line of credit for a minimum of ₹968,800 (~$11,637)/MW of the quoted capacity toward meeting the working capital requirement of the project.

In March, SECI issued Tranche XI tender to select solar power developers to set up 2 GW ISTS-connected solar projects .

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