IREDA Amends Tariff Cap and Submission Deadline For 5 GW of Solar Tender

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IREDA issues notice for Amendment to the Conditions Of The RFS Floated & Extension Of Deadlines For Submission Of Responses To Rfs For 5,000 MW Grid Connected Solar Power Projects (Tranche‐iii) In India Under CPSU Scheme Phase‐II.

In accordance with the notification released by MNRE, following are the amendments to the RfS

REDA has issued amendments to the request for selection issued for the projects, and the ceiling tariff for the projects has been increased to Rs.2.45/kWh from the earlier Rs.2.20/kWh.

Other amendment to the request for selection says that the maximum permissible limit for the viability gap funding (VGF) will be kept at kept at Rs. 0.55 Crore/MW (INR 55 lakhs per MW) for the projects from the earlier, the sum was Rs. 0.70 Crore/MW (INR 70 lakhs per MW)

The deadline for the submission of the responses for RFS, has been extended till May 31, 2021. The bids will be now opened on June 9.

Earlier, the last date to submit the bids was May 15.

Irrespective of the capacity awarded to an SPD, the Scheduled Commissioning Date (SCD) for commissioning of the full capacity of the Project shall be on or before 30 months from the date of issuance of LoA/LoI (for e.g. if Date of issuance of LoA/LoI is 07.08.2020, then SCD shall be latest by 06.02.2023

The maximum time period allowed for commissioning of the full Project Capacity, including the time overrun/delay, shall be limited to 36 months; from the date of issuance of LoA/LoI.

50% of the VGF would be released once the contract is awarded to the engineering, procurement, and construction (EPC) contractor by the developer. The developer must sign the EPC agreement within 12 months from the date of the issuance of the LoA. Earlier, the developer was scheduled to sign the contract with the EPC contractor within six months.

There was one new clause added, Under the scheme, setting up of solar PV power plants for supplying auxiliary power for a power generation plant will be governed as per the existing regulations. The Govt. Producers who want to use such RE power as auxiliary power for power generation plant(s), may specifically inform this fact to Central Electricity Regulatory Commission (CERC) or State Electricity Regulatory Commission (SERC)/ Joint Electricity Regulatory Commission (JERC) at the time of fixation of tariff under section 62 of Electricity Act, 2003.

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