The Solar Energy Corporation of India (SECI) has issued amendments to its recent tender for 2 GW of Interstate transmission system (ISTS) connected wind projects (Tranche IX). The capacity of the 2 GW tender has now been increased to 2.5 GW.
The tender was initially floated in March 2020.
Aside from increasing the overall capacity of the tender by 500 MW, SECI also changed the title of the document to show that the tender was issued for blended wind power projects.
Blended wind power projects are the ones where the power generated from wind-based sources is mixed with solar-based power. The wind power component is expected to contribute at least 80% of the contracted capacity.
The corporation also clarified that the wind and solar projects could be located at the same location or different locations nearby. It, however, noted that the individual wind and solar generating components for the blended wind power project must both inject power into the ISTS grid through a single metering point.
Among other amendments, SECI revised the financial eligibility criteria for the tender. Applicants are now required to have had a minimum annual turnover of ₹7.7 million (~$103,096)/MW of quoted capacity in the last financial year (FY 2018-19), up from ₹5.7 million (~$76,317)/MW previously.
It raised the minimum required profit before depreciation, interest, and taxes (PBIT) amount to ₹1.54 million (~$20,619)/MW in the last financial year, from ₹1.14 million (~$15,263)/MW, previously.
Additionally, applicants are now expected to provide a sanction letter from lenders committing a line of credit for at least ₹1.93 million (~$25,841)/MW quoted, up from ₹1.43 million (~$19,146)/MW previously.
The declared minimum annual capacity utilization factor (CUF) was also raised to 30% from 22% previously.
SECI also amended parts of the power purchase agreement (PPA) documents to reflect the changes in the terms “project” and “power project.” The terms now encompass the solar aspect of the blended wind projects, as well.
Tweaks were also made to reflect that the selected wind power developer is now expected to achieve financial closure of the projects within 12 months from the effective date of the agreement. Previously, financial closure was expected to be achieved within seven months from the effective date of the PPA.
These modifications come on the heels of the Ministry of New and Renewable Energy’s (MNRE) recently issued guidelines for the tariff-based competitive bidding process for procuring power from 2.5 GW of the interstate transmission system connected wind projects blended with solar power. The Ministry had said that SECI would act as the nodal agency for the implementation of the program.
Earlier, MNRE had issued its draft guidelines for the tariff-based competitive bidding process for the procurement of power from grid-connected wind-solar hybrid projects.
Previously, Mercom had reported that MNRE had got the President’s approval for the proposed program to set up 2.5 GW of the ISTS-connected wind and solar hybrid projects across the country on build own operate basis.
Image credit: GERC
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.