The Solar Energy Corporation of India (SECI) has issued a request for selection to set up 1,070 MW of grid-connected solar projects in Rajasthan (Tranche-III).
Interested bidders are expected to pay an earnest money deposit of ₹400,000 (~$5,334)/MW of the capacity quoted. The last date for the submission of bids is August 31, 2020. The projects are to be set up on a build-own-operate (BOO) basis.
SECI said the projects should be interconnected with the nearest substation of the state transmission utility (STU) at a voltage level of at least 33 kV. The selected solar power developer will also be responsible for getting the project connected with STU’s transmission system up to the interconnection point.
To be eligible to take part in the competitive bidding process, applicants must have a net worth of over ₹8 million (~$106,676)/MW of the quoted capacity as of the last date of the previous financial year. They are also expected to have had a minimum annual turnover of ₹4.15 million (~$55,338)/MW and a profit before depreciation interest and taxes (PBDIT) of ₹830,000 (~$11,068) in the last financial year.
Bidders are allowed to submit bids for a minimum of 10 MW and a maximum of 1,070 MW. SECI added that it seeks to promote only commercially established and operational technologies to minimize the technology risk and to achieve timely commissioning of the project.
The financial closure of the project should be received within 12 months of the signing of the PPA. The project should be commissioned within 18 months from the date of the PPA signing. Part commissioning of the project can also be allowed, the tender added.
It also said that cells and modules to be used in the project must be sourced only from the models and manufacturers enlisted in the Ministry of New and Renewable Energy’s (MNRE) approved list of models and manufacturers (ALMM).
According to Mercom’s India Solar Project Tracker, Rajasthan has about 4.8 GW of large-scale solar projects in operation, and approximately 7.5 GW capacity is currently under the development pipeline.
Previously, SECI also issued a request for selection for setting up 10 MW of grid-connected solar power projects at Bagru in Jaipur district of Rajasthan. The project will also be installed on a build, own, operate basis under the Renewable Energy Service Company (RESCO) model.
Earlier this year, the Central Electricity Regulatory Commission granted approval to Power Grid Corporation of India Limited for setting up transmission systems under the second phase of its transmission program for solar energy zones in Rajasthan.
Nithin is a staff reporter at Mercom India. Previously with Reuters News, he has covered oil, metals and agricultural commodity markets across global markets. He has also covered refinery and pipeline explosions, oil and gas leaks, Atlantic region hurricane developments, and other natural disasters. Nithin holds a Masters Degree in Applied Economics from Christ University, Bangalore and a Bachelor’s Degree in Commerce from Loyola College, Chennai. More articles from Nithin.