SECI Issues Tender To Build 500 MW Solar Project

The Solar Energy Corporation of India (SECI) has released a 500 MW (Tranche-XIX) ISTS-connected solar tender. SECI has invited bids for the project until March 17, 2025, for soft copy submission and March 19, 2025, for hard copy submission. A plain vanilla solar tender has become a bit of a rarity in recent times, making this one an interesting one to track in terms of final bids at a time when solar prices have been creeping up post ALMM.

SECI’s latest tender specifies a minimum contracted capacity of 50 MW and a maximum of 250 MW for the project. It also outlines the criteria for energy supply, stating, “The Bidders will declare the annual CUF of the Projects at the time of submission of the response to the document. The declared/revised annual CUF shall in no case be less than 17%.”

SECI’s tender added, “The developer would be required to maintain generation to achieve an annual CUF within +10% and -15% of the declared value till the end of 10 years from SCSD, subject to the annual CUF remaining a minimum of 15%, and within +10% and -20% of the declared value thereafter till the end of the PPA duration of 25 years. However, the shortfall in power supply will not be applicable in events of Force Majeure identified under the PPA with SECI, affecting the supply of power by the SPD.”

The tender also includes success charges, stating, “The selected bidders must pay Success Charges of INR 1,00,000/MW + applicable taxes corresponding to the capacity awarded as per the LoA, to SECI within 20 days of issuance of the LoA towards administrative overheads, project monitoring activities, and coordination with state authorities, including DISCOM/STU/CTU.”

SECI’s Previous Solar Tender Crossed Rs 3/kWh

Last year, SECI’s 1,000 MW Tranche-XVIII tender for ISTS-connected solar projects signaled shifting market dynamics, attracting winning bids above Rs 3/kWh. The project was awarded to ReNew Solar Power (250 MW at Rs 3.04), Acme Solar Holdings (300 MW at Rs 3.05), and Adani Green Energy (50 MW at Rs 3.10) through Adani Renewable Energy Holdings Twelve, emerging as the final winners. Due to pricing concerns, only 600 MW of the 1 GW tender was ultimately awarded.

Unlike previous tenders, this one had no special conditions that would have driven prices higher. With a minimum bid capacity of 50 MW and a maximum of 500 MW, the tender allowed partial commissioning in tranches of 50 MW each.