SECI Seeks Bids For 500 MW Wind Projects In India

The Solar Energy Corporation of India( SECI), a central public sector undertaking (PSU) dedicated to the solar energy sector has released a tender for selecting wind power developers to set up 500 MW Inter-State Transmission System (ISTS-connected) wind power projects in India, under tariff-based competitive bidding (TBCB).

The tender document fee/ Cost Of Document – Amount: INR 29,500/-

SECI bid Processing Fee – Rs. 5 Lakh with taxes for each project from 50 MW up to 99.99 MW and Rs. 15 Lakh with applicable taxes for each project from 100 MW and above.

Earnest Money Deposit (EMD) – Rs 12,98,000 per MW per project to be submitted

Performance Bank Guarantee / Contract Performance Security – 32,45,000

Project Completion Period – 24 months

Pre-Bid Meeting Date – 5th June 2024

Document Sale End Date – 8th July 2024

Bid Open Date – 11th July 2024

SECI shall enter into a Power Purchase Agreement (PPA) with the successful Bidders selected based on this RfS for the purchase of Wind Power for 25 years based on the terms, conditions, and provisions of the RfS and PPA.

The tender mentioned, “The bidder is expected to have a net worth equal to or greater than INR 1,29,80,000/MW and Eighty Thousand/MW, of the quoted capacity, as on the last date of previous Financial Year, i.e. FY 2023-24 or as on the day at least 7 days before the bid submission deadline.”

Additionally, the bidder is expected to hold certain financial qualifications such as, “The bidder is expected to have at least one of the following parameters:

i. A minimum annual turnover of INR 69,43,000/ MW /MW of the quoted capacity during the previous financial year, 2023-24, or as on the day at least 7 days before the bid submission deadline.

ii. Internal resource generation capability, in the form of Profit Before Depreciation Interest and Taxes (PBDIT) excluding other and exceptional income for a minimum amount of INR 13,89,000/MW (Indian Rupees Thirteen Lakhs and Eighty-nine Thousand/MW) of the quoted capacity, as on the last date of the previous financial year, 2023-24, or as on the day at least 7 days before the bid submission deadline.

iii. In-principle sanction letter from the lending institutions/ banks of the Bidder, committing a Line of Credit for a minimum amount of INR 17,36,000/MW (Indian Rupees Seventeen Lakhs and Thirty-six Thousand/MW) of the quoted capacity, towards meeting the working capital requirement of the project quoted under this RfS. Such letter can also be obtained by the Affiliate(s) of the Bidder.

For more details – https://www.seci.co.in/Upload/Tender/SECI000155-8322638-RfSfor500MWWindTranche-XVII-finalupload.pdf