The Solar Energy Corporation of India (SECI) has invited bids to develop 1,200 MW of interstate transmission system (ISTS)-connected wind-solar hybrid power projects (Tranche VIII) in the country.

The projects must be commissioned within 24 months of the power purchase agreement (PPA) signing date.

The last day to submit the bids is March 29, 2024. Bids will be opened on April 3.

The cost of the bidding documents is ₹29,500 (~$355). The bid processing fee for projects from 50 MW to 99 MW is ₹500,000 (~$6,028) and ₹1.5 million (~$18,082) for projects of 100 MW and above.

Bidders will have to furnish an earnest money deposit of ₹928,000 (~$11,187) x rated cumulative installed capacity of solar component in MW + ₹1.26 million (~$15,189) x rated cumulative installed capacity of wind component in MW.

Selected bidders must submit a performance bank guarantee of ₹2.32 million (~$27,968) x MW of solar component + ₹3.16 million (~$38,094) x MW of wind component.

They must also submit a success charge of ₹100,000 (~$1,205)/MW and a payment security deposit of ₹0.02 (~$0.00024)/kWh.

The minimum capacity of each project should be 50 MW. The maximum capacity to be allocated to a bidder would be limited to 600 MW.

Under this tender, a hybrid power project will mean a project comprising two components – one solar and one wind power project. The rated installed project capacity of either of the two components should be at least 33% of the contracted capacity.

The declared annual capacity utilization factor (CUF) should not be less than 30%. The developer should maintain the energy supply to achieve an annual supply corresponding to CUF not less than 90% of the declared value and not more than 120% of the declared CUF value during the PPA duration of 25 years.

Only wind turbine models listed in the Revised List of Models and Manufacturers and modules registered in the Approved List of Models and Manufacturers issued by the Ministry of New and Renewable Energy will be allowed for deployment.

Bidders should have a net worth of ₹9.28 million (~$111,864) x MW of solar component + ₹12.64 million (~$152,367) x MW of wind component as of the last of the previous financial year.

The minimum annual turnover of the bidders should be at least ₹8.28 million (~$99,810)/MW of the quoted capacity during the last financial year.

The internal resource generation capability in the form of profit before depreciation, interest, and taxes should be at least ₹1.65 million (~$19,889)/MW of the quoted capacity as of the last day of the previous financial year.

Bidders should have an approval letter from the lending institutions committing a line of credit for a minimum of ₹2.07 million (~$24,952)/MW of the quoted capacity toward meeting the working capital requirement of the project.

NTPC Renewable Energy, Juniper Green Energy, and Sembcorp won SECI’s tranche VII wind-solar hybrid auction.

According to Mercom’s India Solar Tender Tracker, SECI has issued  8.72 GW of wind-solar hybrid tenders under Tranche – I, II & III, IV, V, VI, and VII.