Solar Energy Corporation of India (SECI) has invited bids to select developers to set up 500 MW of interstate transmission system (ISTS)-connected solar power projects (Tranche XIX).

Bids must be submitted by March 17, 2025. Bids will be opened on March 20.

Bidders must pay a document fee of ₹50,000 (~$575) and a bid processing fee of ₹20,000 (~$230)/MW.

They must also submit an earnest money deposit of ₹942,000 (~$10,847)/MW.

Selected bidders must furnish ₹2.35 million (~$27,062)/MW per project as a performance bank guarantee.

They must also pay success charges of ₹100,000 (~$1,151)/MW of contracted capacity to SECI to cover administrative costs, project monitoring, and coordination with state authorities.

Successful bidders must pay ₹0.02 (~$0.00023)/KWh to SECI as payment security mechanism charges.

They must use only commercially established and operational technologies to minimize the technology risk and to achieve timely commencement of power supply from the projects.

They must also use modules listed in the latest Approved List of Models and Manufacturers.

Bidders must have a net worth of at least ₹9.42 million (~$108,478)/MW of the quoted capacity as of the last date of the previous financial year or at least seven days before the bid submission deadline.

They must have a minimum annual turnover of ₹4.53 million (~$52,167)/MW of the quoted capacity during the last three financial years.

Bidders must have an internal resource generation capability in the form of profit before depreciation interest and taxes for a minimum of ₹906,050 (~$10,434)/MW of the quoted capacity as of the last date of the previous financial year or at least seven days before the bid submission deadline.

They must present an in-principle sanction letter from their lending institutions or banks, committing a line of credit for a minimum of ₹1.13 million (~$13,013)/MW of the quoted capacity towards meeting the working capital requirement.

ReNew Solar Power, ACME Solar Holdings, and Adani Renewable Energy Holdings Twelve won SECI’s Tranche XVIII auction to develop 1,000 MW of ISTS-connected solar power projects.

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