The Solar Energy Corporation of India Limited (SECI) is inviting bids from solar power developers for a major project aimed at bolstering India’s solar energy capacity.
The project entails setting up a 2,000 MW solar power installation coupled with 1,000 MW (4,000 MWh) of energy storage systems. The selection of developers will be conducted through a competitive bidding process based on tariff rates.
Bidding Process and Requirements
The bidding process follows a single-stage, two-envelope approach, requiring bidders to register on the ISN-ETS portal and submit their proposals in accordance with the guidelines specified in the Request for Selection (RfS) documents.
Non-refundable document fees (₹50,000 + GST), bid processing fees (₹20,000/MW + GST), and an earnest money deposit (EMD) of ₹16,24,000 per MW per project in the form of a bank guarantee are mandatory components of the bid submission.
Timeline and Project Details
The deadline for bid submission is September 4, 2024, with bid opening scheduled for the following day.
The project is expected to be completed within a 24-month timeframe. Additionally, a Performance Bank Guarantee (PBG) of ₹40,60,000 per megawatt is required.
Project Execution and Power Purchase Agreement
The project will be executed on a Build Own Operate (BOO) basis, where the selected developers will construct, own, and operate the solar power facilities.
SECI will enter into a 25-year Power Purchase Agreement (PPA) with the successful bidders to procure solar power. This power will then be sold to various buying entities across India, with SECI serving as the intermediary nodal agency.
Eligibility and Fiscal Incentives
Participation in the bidding process is open to entities that meet the eligibility criteria outlined in the RfS documents.
These criteria include having completed or being in the process of constructing solar projects, among other requirements.
Bidders are eligible for fiscal incentives such as accelerated depreciation, concessional customs and excise duties, and tax holidays. However, these incentives will not factor into the evaluation of bids during the developer selection process.