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Indian Renewable Energy Development Agency Limited (IREDA), in January 2021 had invited RfS for Selection of Solar Power Developers for Setting up of 5000 MW Grid Connected Solar PV Power Projects in India (Tranche-III) under CPSU Scheme Phase-II (Government Producer Scheme). Scope of the work was to be set up on build, own and operate basis anywhere in India. The tariff for the project was set at Rs. 2.20 per kWH by IREDA.
The tender was oversubscribed by 1,960 MW and the bidders were SECI, NTPC, NHPC, SJVN, NLC India, IRCON International, and Indian Oil.
Later, the bid submission deadline was extended to 31 May and the ceiling tariff was raised to Rs.2.45 per Kwh.
Against the maximum permissible VGF limit of Rs. 55 lakh per megawatt following bidders have won the contract at a fixed tariff of Rs. 2.45 per kwH.
Energy conglomerate NTPC Limited 1990 MW out of 2500 MW, quoted VGF at Rs. 44,95,000 Lakh/MW; Satluj Jal Vidyut Nigam Ltd. (SJVN) 1000 MW, VGF quoted at Rs. 44,72,000 lakh/MW; fossil fuel electric power generation company NLC India Limited, 510 MW, VGF quoted at Rs. 44,74,990 lakh/MW; Indian Railway Construction Limited (IRCON): 500 MW, VGF quoted at Rs. 44,90,000 lakh/MW and NHPC Ltd 1000 MW, VGF quoted at Rs. 44,90,000 lakh/MW.