SECI Invites Bids for 500 MW of ISTS-Connected Renewable Energy Projects
The last date to submit the bids is August 31, 2023
Solar Energy Corporation of India (SECI) has invited bids to select renewable energy developers for the supply of 500 MW of power from interstate transmission system (ISTS)-connected renewable energy projects with storage across India.
Under the tender, the renewable energy developer will have to set up ISTS-connected renewable energy power projects, including the dedicated transmission network up to the interconnection/ delivery points, at its own cost under the terms of the power purchase agreement (PPA).
Energy storage systems (ESS) will constitute part of the project.
The last date to submit the bids is August 31, 2023. Bids will be opened on September 5.
Bidders will have to submit ₹1.5 million (~$18,146) + 18% GST as a bid processing fee. Bidders must submit an earnest money deposit as per the following formula:
Earnest Money Deposit = [₹1.158 million (~$14,009) x Rated Cumulative Installed Capacity of Solar Component (MW) + ₹1.386 million (~$16,767) x Rated Cumulative Installed Capacity of Wind Component (MW) + ₹480,000 (~$5,807) x Rated Cumulative Installed Capacity of the ESS component (MWh)].
Bidders must also submit a performance bank guarantee determined as per the following formula:
Performance Bank Guarantee = [₹2.9 million (~$35,083) x Rated Installed Capacity of Solar Component (MW) + ₹3.47 million (~$41,978) x Rated Installed capacity of Wind Component (MW) + ₹1.2 million (~$14,517) x ESS Capacity (MWh)].
SECI will sign PPAs with the successful bidders within 60 days from the date of the issuance of the letter of award. The PPAs will be valid for 25 years.
Power procured by SECI from these projects has been provisioned to be sold to Punjab State Power Corporation, which will be the buying entity under this tender.
Renewable energy projects are required to be designed for interconnection with the ISTS substation at the voltage level of 220 kV or above.
Bidders can submit a single bid offering a minimum quantum of cumulative contracted capacity of 50 MW and a maximum quantum of 250 MW.
Only commercially established and operational technologies should be used for the projects to minimize the technology risk and to achieve timely commencement of power supply from the projects.
To ensure only quality systems are installed, and in order to bring in the advantage of the latest developments and models, only type-certified wind turbine models listed in the Revised List of Models and Manufactures (RLMM) issued by the Ministry of New and Renewable Energy (MNRE) should be used for the projects.
The use of solar modules from the Approved List of Modules and Manufacturers issued by MNRE has been mandated.
The net worth of bidders should be equal to or greater than the amount calculated as per the following formula:
Minimum Net Worth Requirement = [₹11.58 million (~$140,089) x Rated Installed Capacity of Solar Component + ₹13.86 million (~$167,671) x Rated Installed Capacity of Wind Power Component + ₹4.8 million (~$58,068) x Rated Installed Capacity of ESS Component].
The responsibility of getting the ISTS connectivity will be that of the developer.
In March this year, SECI issued a tender for selecting solar power developers to set up 2 GW of ISTS-connected solar projects (Tranche XI) in India.
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