The PV projects—tendered under the Central Public Sector Undertaking scheme—will be entitled to government support through viability gap funding, with the level of VGF awarded determined by reverse-bidding auctions for the project capacity.
The financial lender will now oversee the implementation of the second phase of the Central Public Sector Undertaking (CPSU) Scheme which provides viability gap funding (VGF) support for state-run generators to set up 12 GW of solar projects using domestically-made equipment by FY 2022-23.
The project—valued at Rs 15,050 million—is to be set up using only domestically manufactured cells and modules. Completion period is 20 months.
The 923 MW grid-connected solar capacity—tendered under Central Public Sector Undertaking (CPSU) Scheme—is to be developed using only domestically manufactured solar cells and modules. Whereas, modules for the 500 MW project in Maharashtra can be procured from either domestic manufacturers, or imported.
Micro and mini grid-connected projects will also be considered. The projects—to be developed on ‘build-own-operate’ basis—can be set up anywhere in India for self-use or use by government entities at maximum fixed tariffs of Rs 3.50/kWh. Bidding will close on August 23.
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