The Solar Energy Corporation of India Limited (SECI) has announced an opportunity for solar power developers to participate in a significant project aimed at expanding solar energy capacity in India. This project involves setting up solar power installations with a total capacity of 2,000 MW and incorporating energy storage systems with a combined capacity of 1,000 MW and 4,000 MWh. The process for selecting developers will be based on a tariff-based competitive bidding process.
To participate, bidders will need to follow a single-stage, two-envelope bidding procedure. They must first register on the ISN-ETS portal, where they will submit their bids following the guidelines outlined in the RfS documents. Bidders are required to include non-refundable document fees, bid processing fees, and an earnest money deposit (EMD) with their proposals. Specifically, the document fee is ₹50,000 plus GST, while the bid processing fee is ₹20,000 per megawatt plus GST. The EMD amounts to ₹16,24,000 per MW per project, and it must be submitted as a bank guarantee.
The deadline for bid submissions is set for September 4, 2024, with bid openings scheduled for the following day, September 5, 2024. The project is expected to be completed within a 24-month timeframe. Additionally, a Performance Bank Guarantee (PBG) of ₹40,60,000 per megawatt is required.
The project will be executed on a Build Own Operate (BOO) basis, with a total capacity of 2,000 MW. Successful bidders will enter into a Power Purchase Agreement (PPA) with SECI for 25 years. This agreement will govern the purchase of solar power, which will be sold to various buying entities across India. SECI will act as the intermediary nodal agency for these transactions.
Participation in this bidding process is open to those who meet the eligibility criteria specified in the RfS documents. Bidders must comply with all terms and conditions, and their bids must be submitted without any deviations or exceptions. Eligible participants include those who have already completed or are in the process of constructing solar projects, as long as they meet the conditions set out in the RfS. Additionally, bidders can benefit from fiscal incentives such as accelerated depreciation, concessional customs and excise duties, and tax holidays. However, these incentives will not impact the evaluation of bids during the selection process.
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