Rewa Ultra Mega Solar Limited (RUMS) has tendered a total of 1,500 MW of grid-connected solar photovoltaic (PV) projects which will be developed across three solar parks in the state of Madhya Pradesh.
The bid-submission deadline is December 10, 2018.
Solar PV capacity of 550 MW will be developed in Agar Solar Park located in Agar district, 500 MW will be set up in Neemuch Solar Park located in Neemuch district, and another 450 MW will be developed in Shajapur Solar Park located in Shajapur district of Madhya Pradesh.
All the three solar parks will be developed and owned by RUMS. It has issued three separate notice inviting tenders for the three solar projects.
When contacted, a RUMS official told Mercom, “No, a single bidder cannot develop the entire capacity. There are a lot of permutations and combinations according to which a single bidder can develop capacities in all the three solar parks.”
Mercom has previously reported that the Rewa solar park auction heralded the dawn of falling solar tariffs in India. There are two major reasons for such low tariffs being quoted in the auction – the availability of cheap funds and the availability of payment security mechanisms to protect developer’s interests.
When asked about the payment security for these projects, the RUMS official informed Mercom that it will be similar to that of the REWA solar park.
In Rewa, various payment security measures were introduced. For instance, four tier security guarantee was provided to ensure that, in the case of any delay or even natural calamities that may lead to a transmission disruption, payment to developers is still guaranteed.
Saumy is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism & Mass Communication from the Manipal Institute of Communication at Manipal University. More articles from Saumy Prateek.