The Solar Energy Corporation of India (SECI)’s 750 MW tender for solar PV projects to be developed on a standalone basis across the state of Rajasthan has been oversubscribed by 1,620 MW. Bids totaling 2,370 MW were submitted in response to the tendered capacity of 750 MW.
A SECI official confirmed that the bid-submission for this tender has now concluded. However, the official did not disclose the firms participating or the capacity bid by them. SECI had tendered the capacity in August 2018 and the bid submission deadline was extended in October 2018.
According to Mercom’s source who participated in the process, “13 companies have submitted the bid for 2,370 MW. ReNew Power has bid for 360 MW and Duroc Solar (Eden) has bid for 300 MW. Three developers – Shapoorji Pallonji, Fortum Solar, and ACME have bid for 250 MW each, whereas two developers – Mahindra and Sembcorp have bid for 200 MW each. Azure Power and UPC Solar have also bid for 100 MW each.”
Earlier, Mercom reported that SECI had fixed ₹2.93 (~$0.0427)/kWh as the upper tariff ceiling for this tender. This was later revised to ₹2.68 (~$0.0375)/kWh. The projects are slated to have a minimum individual capacity of 10 MW and will be set up in multiples of 10 MW, with a cumulative capacity of 750 MW.
A single bidder can bid for a maximum capacity of 750 MW. The projects will be developed on build own operate (BOO) basis. The scope of work includes acquiring the land, developing the project, connectivity, and long-term open access.
The projects should be designed for interconnection with the nearest substation at a voltage level of 33 kV or above. The maintenance of the transmission system up to the interconnection point will be the responsibility of the successful bidder.
SECI will enter into 25-year power purchase agreements with the developers. The projects must achieve financial closure within 12 months from the effective date of the PPA. The successful developer must demonstrate the possession of the entire land identified for the project within 12 months from the effective date of the PPA.
Recently, Mercom reported that GUVNL’s 500 MW solar PV power projects (Phase IV) tender was oversubscribed by 545 MW. Bids totaling 1,045 MW were submitted in response to the tendered capacity of 500 MW. Finally, Paryapt Solar, a special purpose vehicle by UPC Solar, has emerged as the lowest bidder by quoting a tariff of ₹2.55 (~$0.035)/kWh to develop 50 MW in the auction.
Rajasthan has so far installed approximately 3 GW of large-scale solar installations as of Q4 2018, according to Mercom India Project Tracker.