Solar Energy Corporation of India (SECI) has received a total of 3.5GW in bids from major firms for the country’s 1.2GW solar power tender launched under the Interstate Transmission Connectivity (ISTS) Tranche VIII.
According to Mercom India Research, The list of participants includes ReNew Power, Softbank, Avaada, O2 Power, Brookefield, Eden, Tata, Ayana, and IB Solar.
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ReNew Power and Softbank bid for 600MWs each, whereas Avaada bid for 500MW and the remaining six companies bid for 300MW each, totalling 1.8GW.
The installation of the solar PV power projects will be on a build-own-operate (BOO) basis.
A few days back, SECI amended the power purchase and sale agreement (PPA and PSA) for this 1,2GW 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.
Recently, Greenko Group and ReNew Power won the auction conducted by SECI for 1.2GW of solar, wind, and energy storage projects with guaranteed peak power supply. While Greenko was awarded 900MW, ReNew Power won 300MW of projects. Greenko Group won the bid at a peak power tariff rate of INR6.12 (~$0.086)/kWh, and ReNew Power won at INR6.85 (~$0.096)/kWh.
According to Mercom’s India Solar Tender Tracker, SECI has tendered nearly 12.2GW under ISTS (Tranche I to Tranche VIII) and has auctioned ~7.64GW under ISTS Tranche I to VII.
The energy transition and renewable energy are hot topics disrupting the utility industry in India and will be a key focus at the POWERGEN INDIA and Indian Utility Week summit which takes place in New Delhi. For more details visit https://www.powergen-india.com/ or indian-utility-week.com