SECI Invites Bids for 1.2 GW ISTS-Connected Solar Projects with Storage

The last date to submit the bids is April 26, 2024


Solar Energy Corporation of India (SECI) has issued a request for selection (RfS) from project developers to set up 1,200 MW Inter-State Transmission System (ISTS)-connected solar power projects with 600 MW/1,200 MWh energy storage systems (ESS) anywhere in India under Tranche XV.

SECI will enter into a power purchase agreement (PPA) with the successful bidders to purchase solar power for 25 years.

The selected bidder must set up the projects on a Build Own Operate basis and commission them within 24 months of the effective PPA signing date.

The bidders must pay the document fee of ₹29,500 (~$355) and a processing fee of ₹500,000 (~$6,031) plus applicable taxes for each project from 50 MW-90 MW, or ₹1.5 million (~$18,091) for each project ranging from 100 MW and above. Bidders must also submit an Earnest Money Deposit (EMD) of ₹1.29 million (~$15,609) as bid security.

Registered Micro, Small, and Medium Enterprises will be exempted from the above fees.

The successful bidder must also submit a performance bank guarantee of ₹3.24 million (~$39,022)/MW/project before signing the PPA. They must also pay success charges of ₹100,000 (~$1,206)/MW of the allotted capacity plus applicable taxes.

The last date to submit the bids is April 26, 2024. Bids will be opened on May 1, 2024.

The solar power developer must set up ISTS-connected solar power projects with ESS, including the transmission network up to the interconnection or delivery point, with the primary objective of supplying solar power to SECI at its own cost.

Further, ESS of at least 0.5 MW/1 MW of project capacity should mandatorily be installed as part of the project. It should be designed for interconnection with the ISTS/InSTS by the prevailing regulations.

All approvals, permits, and clearances required for setting up the project and/or transmission network, including those needed from the state government and local bodies, will be within the developer’s scope. They will be responsible for identifying land, installation, and ownership of the project, as well as obtaining connectivity and necessary approvals and interconnections with the ISTS network.

The stated or adjusted annual Capacity Utilization factor (CUF) cannot be less than 17%. The developer must maintain generation to achieve annual CUF within + 10% and -15% of the declared value till the end of ten years.

Any bidder from a country sharing a land border with India, who is a registered entity, will be eligible to bid in this tender. Solar project developers with operational technologies that are commercially established will be preferred.

Only modules from the Ministry of New and Renewable Energy’s Approved List for Models and Manufacturers must be used.

The net worth of the bidder should be equal to or greater than ₹12.94 million (~$156,091) as of the date of the previous financial year. The bidders must also have a minimum annual turnover of ₹3.8 million (~$46,200) of the quoted capacity during the last fiscal year.

They can also possess an internal resource generation capability in the form of profit before depreciation, interest, and taxes of at least ₹766,000 (~$9,240)/MW of the quoted capacity. They can also show approval from lending institutions committing a line of credit for a minimum of ₹957,500 (~$11,549)/MW of the quoted capacity toward meeting the working capital requirement of the project.

Earlier this year, SECI invited bids to set up 1,500 MW ISTS-connected solar power projects in India under Tranche XIV.

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