The Solar Energy Corporation of India (SECI) has auctioned 1.2 GW of the interstate transmission system (ISTS) connected solar projects (Tranche VIII).
In the auction, SBE Renewables Fifteen Private Limited (SoftBank), AMP Energy Green, and Eden Renewable Alma won capacities of 600 MW, 100 MW, and 300 MW respectively at the tariff of ₹2.50 ($0.0348)/kWh. ReNew Solar won only 200 MW capacity out of the 600 MW it bid at ₹2.51 ($0.035)/kWh under the bucket-filling method.
In January 2020, SECI had issued a detailed request for selection documents for this tender. Though the tender was announced in December 2019, the details were made available only in January 2020. The installation of the solar PV power projects under this tender will be on a build-own-operate (BOO) basis under tranche VIII of the ISTS program.
The tender was floated for 1.2 GW and was oversubscribed by 2.3 GW, indicating good interest from bidders.
Recently, SECI amended the power purchase and sale agreement (PPA and PSA) for this 1,200 MW solar tender, adding another point to the existing ‘change in law’ clause. The additional clause states that in case of a change in the law on account of anti-dumping duty or safeguard duty or customs duty on solar photovoltaic (PV) modules, the solar power developer will be entitled to either an increase or decrease in the tariff. This increase or decrease in tariff will be for an amount equivalent to ₹0.05 (~$0.00070)/kWh for every increase or decrease of ₹100,000 (~$1,402) of impact on the cost of solar PV modules.
Meanwhile, recently, Greenko Group and ReNew Power won the auction conducted by SECI for 1.2 GW of solar, wind, and energy storage projects with guaranteed peak power supply. While Greenko was awarded 900 MW, ReNew Power won 300 MW of projects. Greenko Group won the bid at a peak power tariff rate of ₹6.12 (~$0.086)/kWh, and ReNew Power won at ₹6.85 (~$0.096)/kWh. As reported by Mercom previously, this SECI tender was also oversubscribed by 420 MW. Greenko had bid for 900 MW, ReNew Power bid for 600 MW, and HES Infrastructure bid for 120 MW capacity. The total capacity that was bid for totaled 1,620 MW while the tendered capacity was 1,200 MW.
According to the Mercom’s India Solar Tender Tracker, SECI has announced 12.2 GW of solar projects under the ISTS program’s Tranche I to VIII and auctioned around 8.84 GW in Tranche I to VIII.
Earlier, SECI announced a notice inviting tender (NIT) for the procurement of 5 GW of power on a round-the-clock basis from renewable energy sources complemented with thermal power projects on a build-own-operate (BOO) basis.
Rakesh is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU).