The Solar Energy Corporation of India Limited (SECI) has launched a major initiative to expand India’s solar energy capacity with a new project calling for 2,000 megawatts (MW) of solar power installations and 1,000 MW with 4,000 megawatt-hours (MWh) of energy storage systems. The project will be awarded through a tariff-based competitive bidding process.
Interested developers must participate in a single-stage, two-envelope bidding procedure. Bidders are required to register on the ISN-ETS portal and submit their proposals according to the guidelines outlined in the Request for Selection (RfS) documents. Submissions must include a non-refundable document fee of ₹50,000 plus GST, a bid processing fee of ₹20,000 per MW plus GST, and an earnest money deposit (EMD) of ₹16,24,000 per MW, to be provided as a bank guarantee.
The deadline for bid submissions is September 4, 2024, with openings scheduled for September 5, 2024. The project is expected to be completed within 24 months. A Performance Bank Guarantee (PBG) of ₹40,60,000 per megawatt will also be required.
The project will be executed on a Build Own Operate (BOO) basis, with successful bidders entering into a 25-year Power Purchase Agreement (PPA) with SECI. This agreement will facilitate the sale of solar power to various entities across India, with SECI serving as the intermediary nodal agency.
Eligibility criteria for participation are outlined in the RfS documents, and bidders must adhere to all terms and conditions. Participants must demonstrate experience in completing or constructing solar projects to qualify. Fiscal incentives, including accelerated depreciation, concessional customs and excise duties, and tax holidays, are available but will not affect the bid evaluation process.
