SECI Closes 1.2 GW Hybrid Tender Issued in January, Lowest Bid at Rs 2.41/kWh

SECI has finally closed its tender for setting up of a 1.2 GW hybrid projects in India with 3 firms submitting the lowest bid of Rs 2.41/kWh

The Solar Energy Corporation of India (SECI) has finally closed its tender for setting up of a 1.2 GW ISTS-Connected solar-wind hybrid power projects in India under Tranche-III. Three firms have emerged successful in the auctions with the winning and lowest tariff of Rs 2.41/kWh and were awarded a combined 1110 MW capacity. The L2 bid saw the entire tendered capacity awarded to four bidders.

As per industry sources, Adani Renewables, ABC Renewables – a subsidiary of Axis Energy, and Amp Energy were awarded 600 MW, 380 MW and 130 MW capacities respectively in the auction. All three met the L1 tariff of Rs 2.41 per unit. Besides the three L1 bidders, ACME Solar submitted a bid of Rs 2.42/kWh for 300 MW capacity, however, the firm was only awarded 90 MW under the tender.

The tender was first issued in January 2020. 

As per the RfS document, SECI will now enter into PPA with the Hybrid Power Developers (HPDs) for a period of 25 years from the date as per the provisions of PPA. The maximum tariff/ ceiling tariff was fixed at Rs. 2.88/kWh for the entire term of 25 years.

Buying Entities and bulk consumers which require wind-solar hybrid power to fulfill their solar and non-solar RPO under respective RPO regulations will be eligible to buy wind-solar hybrid power under this scheme. SECI shall sign PPAs with the HPDs at the respective tariffs discovered after e-reverse auction and back-to-back Power Sale Agreements (PSAs) with the Buying Entities at a pooled price of the total capacity allotted.

In October, SECI had reissued the Request for Selection (RfS) document for the selection of project developers for setting up of combined 1200 MW wind-solar hybrid power projects.

More recently, the nodal agency has issued a tender for the deployment of 1200 MW ISTS-connected wind power projects in India (Tranche-X). Power procured by SECI from the above projects has been provisioned to be sold to the Discoms of Rajasthan, which shall be the buying entities under this RfS. The Buying Entities shall procure power under the RfS through Rajasthan Urja Vikas Nigam Limited (RUVNL), which is the authorised representative for signing the Power Sale Agreement, on behalf of the Rajasthan Discoms.

The last date of bid submission is February 5, 2021.