India Mega Tender: Lowest Bid Of INR 2.55/kWh For 2000 MW NHPC ISTS-connected Solar Project

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The National Hydroelectric Power Corporation (NHPC) Issued the results of its 2000 MW ISTS-connected solar power projects (ISTS-viii).

The Shortlisted bidders for this project are SoftBank, O2 Power, Axis Energy Ventures India Private Limited, EDEN Renewables and Avaada Energy

R. K.Singh, Minister of State (IC) Power and New & Renewable Energy, said on twitter that, “During lockdown we kept our interaction with stakeholders alive through virtual platforms and also brought out new bids. This tariff is the result of several measures which we have undertaken during the past few months to enhance confidence of investors and to promote ease of doing business. We stand committed to minimizing the risk to investors.”

Softbank, Axis Energy, O2 Power, and EDEN quoted tariffs of ₹2.55 /kWh each whereas Avaada Renewables quoted a tariff of Rs 2.56/kWh. Awarded capacity for the shortlisted bidder is 600 MW, 400 MW, 380 MW,300 and 320MW respectively

In January, NHPC extended the bid submission deadline of its tender for 2000 MW of solar projects from October 17, 2019, to January 10, 2020, while the bid opening date has now been scheduled for January 14, 2020. Earlier the deadline for this tender was September 27, 2019.NHPC has also revised its minimum tariff payable to the project ₹2.78 /kWh from ₹2.65 /kWh. Initially, the NHPC had set a tariff ceiling of ₹2.95 /kWh but in October 2019, the ceiling tariff was revised to ₹2.65 /kWh. 

The amount of earnest money deposit has also been reduced from ₹1 million to ₹400,000 /MW. Additionally, the performance bank guarantee (PBG) has been revised to ₹2 million /MW from ₹2.5 million/MW.

Recently, The Solar Energy Corporation of India Limited (SECI) Issued results of E-bidding and E-RA for its 1200 MW ISTS-connected solar PV power projects (ISTS-viii). The Shortlisted bidders for this project were SBE Renewables Fifteen Private Limited, AMP Energy Green Pvt. Ltd., Eden Renewable Alma Private Limited and ReNew Solar Power Private Limited. All three companies quoted 2.50/kWh as their tariff rate whereas ReNew Solar Power Private Limited quoted 2.51/kWh. Awarded capacity for the shortlisted bidder was 600,100,300 and 200MW respectively.

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