The Solar Energy Corporation of India (SECI) has announced a tender for the establishment of 1,500 MW inter-state transmission system (ISTS)-connected solar power projects in India, marking Tranche XIV.
Interested parties must submit their bids by February 23, 2024, with bid openings scheduled for February 28.
For each project with quoted capacity between 50 and 90 MW, bidders must submit a bid document fee of ₹29,500, a bid processing fee of ₹500,000 + applicable taxes, and ₹15 lakhs + applicable taxes for projects with quoted capacity greater than 100 MW.
Additionally, bidders must provide an earnest money deposit of ₹928,000.
The successful bidder is tasked with establishing solar projects linked to the ISTS, covering the transmission network extending to the interconnection/delivery point.
Responsibilities include identifying suitable land, project installation and ownership, and obtaining connectivity and necessary approvals for interconnection with the ISTS network/State Transmission Utility (STU) or intra-state transmission system (InSTS) network, as applicable, for power supply to SECI.
Developers may choose to locate projects in the same state as the buying entity for STU interconnection.
Bidders, along with their parent, affiliate, or ultimate parent, are required to submit a single bid, offering a contracted capacity ranging from a minimum of 50 MW to a maximum of 750 MW, in specified formats. Bids for projects must be in increments of 10 MW.
Locations for the projects are at the discretion of the bidders.
Project design must facilitate interconnection with the ISTS or InSTS in compliance with Central Electricity Regulatory Commission regulations.
If the buying entity is in the same state as the project, the developer may opt for interconnection at the STU or InSTS substation, adhering to the minimum voltage level as per applicable state regulations.
The stated or adjusted annual Capacity Utilization Factor (CUF) should not fall below 17%.
Throughout the initial ten years, the developer must achieve an annual CUF within +10% and -15% of the declared value, contingent upon maintaining a minimum annual CUF of 15%.
From the 11th year until the conclusion of the PPA term (25 years), the annual CUF should be within +10% and -20 % of the declared value.
Only modules from the Ministry of New and Renewable Energy’s Approved List for Models and Manufacturers are acceptable.
Bidders must possess a net worth equal to or exceeding ₹92.8 lakhs/MW of the quoted capacity as of the last date of the previous financial year.
It is required that bidders have a minimum yearly turnover from the previous fiscal year of ₹37.5 lakhs/MW of the quoted capacity.
Additionally, they must be able to generate income internally in the form of profit before depreciation, interest, and taxes equal to or greater than ₹751,000/MW of the quoted capacity as of the last day of the preceding fiscal year.
Alternatively, they can provide approval from lending institutions committing a line of credit for a minimum of ₹938,800/MW of the quoted capacity toward meeting the working capital requirement of the project.
Discover more from SolarQuarter
Subscribe to get the latest posts sent to your email.
