Solar Energy Corp. of India (SECI) has launched a tender to select developers for 1 GW of interstate transmission system (ISTS) connected solar PV power projects and additional capacity of up to 1 GW to be awarded through Greenshoe option.
Selection for a total capacity of 1 GW will be carried out through e-bidding followed by e-reverse auction process. Additional capacity through ‘Greenshoe Option’ shall be offered to the successful bidders who are willing to execute power purchase agreement (PPA) with SECI at the lowest tariff discovered after the reverse auction.
The successful developers will set up the projects on a build-own-operate (BOO) basis. SECI will enter into a PPA with the successful bidders for a period of 25 years.
Power procured by SECI from these projects has been provisioned to be sold to the different buying entities of India.
Bidders who have already commissioned solar PV projects or are in the process of constructing such projects and have untied capacity may also participate under this RfS. In such case, they will be given the benefit of a longer period of PPA, commensurate to the duration between the actual date of commencement of supply of power and scheduled commencement of supply date (SCSD),
A developer must submit a single bid offering a minimum contracted capacity of 50 MW and a maximum of 500 MW. The total capacity to be allocated to a bidder is up to 500 MW (without exercising Greenshoe Option).
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