SECI Invites Bids for 1.5 GW of Power from ISTS-Connected Renewable Projects
The last date for the submission of bids is September 15, 2023
Solar Energy Corporation of India (SECI) has invited bids for the selection of renewable energy developers for the supply of 1.5 GW firm and dispatchable power from Inter-State Transmission System (ISTS)-connected renewable energy projects under tariff-based competitive bidding.
Both land and connectivity will be under the scope of the renewable energy developer.
The last date for the submission of bids is September 15, 2023. Bids will be opened on September 20.
The bid processing fee is ₹1.5 million (~$18,228) + 18% GST for each project.
Bidders must submit an Earnest Money Deposit (EMD) based on the total cumulative installed capacity they have committed. The formula for calculating the EMD is as follows:
EMD = [₹1,158,000 (~$14,072) x Rated Cumulative Installed Capacity of Solar component (MW) + ₹1,386,000 (~$16,842) x Rated cumulative Installed capacity of Wind component (MW) + ₹480,000 (~$5,832) x Rated Cumulative Installed Capacity of the Energy Storage System (MWh)].
The EMD must be submitted in the form of a bank guarantee and will be valid for 12 months.
Successful bidders must also provide a Performance Bank Guarantee (PBG) as a security deposit. The PBG amount will be determined using this formula:
PBG= [₹2,900,000 (~$35,238) x Rated Installed Capacity of Solar component (MW) + ₹3,470,000 (~$42,164) x Rated Installed capacity of Wind component (MW) + ₹1,200,000 (~$14,581) x Energy Storage System (ESS) Capacity (MWh)].
For example, if the contracted capacity is 600 MW with the following installed capacities: Solar: 400 MW, Wind: 1,400 MW, and Battery Energy Storage System (BESS): 500 MWh, the applicable PBG amount will be ₹6.62 billion (~$80.4 million)
Bidders are required to submit the PBG before the Power Purchase Agreement is signed.
Bidders, along with their parent companies, affiliates, or any group company, must submit a single bid. The bid should offer a minimum cumulative contracted capacity of 50 MW and a maximum cumulative contracted capacity of 750 MW.
The contracted capacity must be quoted in multiples of 10 MW only.
The project must be designed to connect with the ISTS following the prevailing regulations set by the Central Electricity Regulatory Commission.
The connection to the grid and metering should adhere to the relevant grid code, grid connectivity standards, and regulations on communication systems for electricity transmission.
The minimum voltage level required for interconnection with the ISTS is 220 kV.
The developer will be responsible for arranging and bearing the cost of ISTS connectivity.
The power procured from these projects is provisioned to be sold to Punjab State Power Corporation and Madhya Pradesh Power Management Company.
SECI will act as the intermediary nodal agency for the procurement and sale of this power to the buying entities entirely on a back-to-back basis, based on due performance by the renewable energy developer as well as the buying entities.
Bidders must have a net worth equal to or greater than a specified amount, which is calculated based on the quoted installed capacity breakup. The net-worth requirement is determined using the formula:
Minimum Net-Worth requirement = [(₹11,580,000 (~$140,746) x Rated Installed Capacity of Solar PV component) + (₹13,860,000 (~$168,457) x Rated Installed Capacity of Wind Power component) + (₹4,800,000 (~$58,336) x Rated Installed Capacity of ESS component)]
Bidders must demonstrate net worth either as of the last day of the previous financial year 2022-23) or at least seven days before the bid submission deadline.
Additionally, they should have a minimum annual turnover of ₹19 million (~$ 230,932)/MW of the quoted contracted capacity.
Recently, SECI invited bids for manufacturing, testing, packaging, supplying, and transporting 1,000 MW (DC) of domestically manufactured solar modules using indigenous solar cells under the Central Public Sector Undertaking Program II (Tranche -III).
Earlier, SECI had invited expressions of interest for the supply of 1,800 MW (DC) of solar modules (including cells manufactured in India).
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