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SECI Floats Tender For 2.5 GW RTC Renewable Power Combined With Non-Green Sources

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Vedanta Invites Bids For Supplying Additional 500 MW of Hybrid Renewable Energy

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The Solar Energy Corporation of India (SECI) is seeking proposals for the provision of 2.25 GW of round-the-clock (RTC) power from renewable energy projects complemented with power from any other source in India that is linked to the Interstate Transmission System (ISTS).

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The deadline for proposal submissions is October 10, 2022. The day of the bid opening is October 13.

In accordance with the terms and conditions of the request for selection (RfS), SECI will engage in a 25-year power purchase agreement (PPA) with the selected bidders.

For each project, bidders are required to deposit a processing fee of Rs 1.5 million. They must provide an earnest money deposit of Rs 1.23 million/MW. Additionally, the winning bidder would be required to provide a performance bank guarantee of Rs 1.839 million/MW.

The site of the projects might be anywhere in India. The installed energy storage system, if any, and the components of the renewable generation system for a single project may be situated together or separately.

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To fulfill the RTC supply obligation, the renewable energy developer will be in charge of building up generating systems for the delivery of renewable power combined with non-renewable electricity. Further, the acquisition of the land and ISTS connectivity will be the developers’ responsibility.

The project must employ solar modules from the Approved List of Models and Manufacturers (ALMM).

The project should be installed, run, and maintained by the renewable developer in order to provide renewable energy that is supplemented with dispatchable power from any other source or storage in an RTC way. Every year, on a monthly basis for at least 11 months out of the year, and during peak hours, the developer must maintain at least 90% availability.

As of the final day of the prior fiscal year, the bidder’s net worth had to be equal to or more than Rs 18.38 million/MW of the stated capacity, and they must have a minimum annual turnover of Rs 24.4 million for each MW of stated capacity in order to participate in the bidding.

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Additionally, as of the final day of the preceding financial year, the internal resource generating capability expressed as profit before depreciation, interest, and taxes shall be at least Rs 4.48 million/MW of the quoted capacity.

The financial institutions should have provided bidders with an acceptance letter pledging a line of credit for at least Rs 5.6 million/MW of the stated capacity toward the project’s working capital needs.

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