The 3 GW Inter-State Transmission System (ISTS)- connected solar photovoltaic (PV) tender which was floated by the Solar Energy Corporation of India (SECI)’s has been oversubscribed by 2.1 GW.

According to a SECI official, “Technical bids totaling 5,100 MW were received against the tendered capacity of 3 GW.”

“In all, 12 bidders submitted technical bids,” added the SECI official.

SBG Cleantech bid the maximum for 1,800 MW‎; ‎ReNew Power bid for 500 MW, ‎ACME for 600 MW, ‎ Adani Green and Azure Power bid for 300 MW each; Mahindra, Sprng Energy, Tata Power Solar, and Hero Future Energies bid for 250 MW each; ACB India, Canadian Solar and Mytrah bid for 200 MW each, elaborated the SECI official.

The official added that the financial bidding will be done soon, and the capacity will then be awarded. SECI had tendered the capacity in February 2018.

When asked to comment on such a massive oversubscription, the SECI official said, “Yes, the numbers are good, but not as good as what we have seen in some previous auctions.”

Mercom previously reported that SECI received technical bids totaling more than 8,500 MW for tendered capacity of 750 MW at the Bhadla Solar Park in Rajasthan.

“After tendering the capacity, a corrigendum was introduced. Through this corrigendum, the maximum allowable capacity for a single bidder was raised to 1,800 MW from the previous maximum allowable capacity of 750 MW for a single bidder and the minimum allowable capacity was reduced to 200 MW from the previous 250 MW. If you will see, SBG has bid for the maximum,” the official further added.

This is the second SECI tender that has been oversubscribed this month. Towards the beginning of this month, SECI’s 2 GW ISTS-connected grid-connected solar PV tender was oversubscribed by 1.8 GW, highlighting the voracious appetite of developers in India to win large-scale solar projects.