PFC Consulting, a subsidiary of India's state-owned Power Finance Corporation, has officially launched a Request for Selection (RfS) process, inviting proposals for 1.25GW of Interstate Transmission System (ISTS)-connected solar photovoltaic (PV) projects within the country.
These projects are structured on a build, own, operate basis and are slated to enter into 25-year Power Purchase Agreements (PPAs) with the government-owned renewable energy entity, NTPC (National Thermal Power Corporation). These solar ventures can be established anywhere in India, provided they are seamlessly connected to the ISTS.
Projects selected through this initiative will play a crucial role in the scheme for enhancing the flexibility of thermal or hydro-power stations by integrating renewables and storage energy.
It's important to note that operational projects do not qualify for participation in this tender. However, projects that are under construction or awaiting commissioning are eligible to apply for the RfS. To be considered for selection, a project must exhibit a minimum capacity of 300MW, with a maximum capacity set at 1.25GW.
Upon selection, these projects will have an 18-month timeframe for full commissioning, measured from the date of signing the PPA. While PFC Consulting did not specify a preference for module technology, it is imperative that only commercially established technologies be employed. Furthermore, the selection mandates the use of modules listed in the Approved List of Models Manufacturers, in line with India's ambitious goal of achieving an annual domestic solar manufacturing capacity of 110GW of solar modules by 2026.
Bidding for project submissions is already underway, with the application deadline set for October 12, 2023.
This initiative aligns with India's overarching ambition to replace 30GW of coal-fired power capacity with renewable energy sources by 2030, a crucial step in the country's transition towards a sustainable and greener energy landscape.
