SECI Invites Bids For Setting Up 1500MW ISTS Solar Power Projects

SECI Invites Bids For Setting Up 1500MW ISTS Solar Power Projects. Photo-Pexels

The Solar Energy Corporation of India (SECI), a Central government enterprise, has invited proposals for setting up Inter-State Transmission System (ISTS)-connected solar projects in India for an aggregate capacity of 1500 MW on a Build- Own-Operate (BOO) basis.

Further, SECI will enter into a Power Purchase Agreement (PPA) with the successful bidders selected based on the Request for Selection (RfS) process for the purchase of solar power for a period of 25 years, based on the terms, conditions, and provisions of the RfS and PPA, the SECI tender said.

The bidding procedure will comprise a single-stage, two-envelope bidding procedure that will proceed as detailed in the RfS documents. The maximum eligibility criterion for contracted capacity allocation for a bidder will stand at 750 MW. A bidder, including its parent, affiliate or ultimate parent, or any group company can submit a single bid offering a minimum quantum of contracted capacity of 50 MW and a maximum quantum of 750 MW.

The tender issued by SECI also mentioned that bidders who have already commissioned solar projects or are in the process of constructing such projects and have untied capacity can also participate under this RfS. 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 the scheduled commencement of supply date.

Also, the power procured by SECI from the abovementioned projects has been provisioned to be sold to the different buying entities in India.

As per SECI, the bidders will be free to avail of fiscal incentives like accelerated depreciation, concessional customs and excise duties, tax holidays, etc. as available for such projects. Eventually, it will be upto bidders to avail various tax and other benefits.

The tender also specified other demands for the project such as the projects should be located at the locations chosen by the bidder at its own discretion, cost, risk, and responsibility and that the project should be designed for interconnection with the ISTS/InSTS in accordance with the prevailing CERC regulations.