+
IREDA extends bid submission date for CPSU solar projects
POWER & RENEWABLE ENERGY

IREDA extends bid submission date for CPSU solar projects

Indian Renewable Energy Development Agency Ltd (IREDA) has extended the bid submission date for the execution of the Central Public Sector Undertaking (CPSU) scheme phase-II to June 15 for setting up 12,000 MW grid-connected solar projects with Viability Gap Funding (VGF).

The last date to submit the bids was May 30 earlier. A VGF is given to cover the cost difference between domestic and imported solar cells and modules. VGF is going to be released in two phases.

The CPSUs must submit their responses by 15 June 2021, and the successful bidders will be selected by July 20. MNRE had appointed IREDA as the executing agency for the scheme earlier.

Under the scheme, the power produced by the government producers can be used on payment of mutually agreed usage charges of not more than Rs 2.45 per unit for use by the government or government entities or self-use, either through discoms or directly.

The maximum VGF that is permissible is Rs 55 lakh per megawatt. The bidding process will decide the actual VGF to the government producer using the VGF amount as a bid parameter to select the project developer.

The MNRE will review the maximum permissible BGF amount from time to time and reduce it if the cost comes down.

IREDA invited proposals on 29 January 2021, to set up Grid (including Mini & Micro Grid) Connected Solar PV projects anywhere in the country, as a part of the Central Government's aim to achieve a cumulative capacity of 100 GW Solar PV installation by the year 2022.

This should be done on a Build Own Operate (B-O-O) basis for an aggregate capacity of 5,000 MW under Phase-II (Tranche-III).

Image Source


Also read: Indian Railways invites bids for 15 MW solar project with battery storage

Also read: Bharat Petroleum floats tender for 15 MW solar, non-solar RE projects

Indian Renewable Energy Development Agency Ltd (IREDA) has extended the bid submission date for the execution of the Central Public Sector Undertaking (CPSU) scheme phase-II to June 15 for setting up 12,000 MW grid-connected solar projects with Viability Gap Funding (VGF). The last date to submit the bids was May 30 earlier. A VGF is given to cover the cost difference between domestic and imported solar cells and modules. VGF is going to be released in two phases. The CPSUs must submit their responses by 15 June 2021, and the successful bidders will be selected by July 20. MNRE had appointed IREDA as the executing agency for the scheme earlier. Under the scheme, the power produced by the government producers can be used on payment of mutually agreed usage charges of not more than Rs 2.45 per unit for use by the government or government entities or self-use, either through discoms or directly. The maximum VGF that is permissible is Rs 55 lakh per megawatt. The bidding process will decide the actual VGF to the government producer using the VGF amount as a bid parameter to select the project developer. The MNRE will review the maximum permissible BGF amount from time to time and reduce it if the cost comes down. IREDA invited proposals on 29 January 2021, to set up Grid (including Mini & Micro Grid) Connected Solar PV projects anywhere in the country, as a part of the Central Government's aim to achieve a cumulative capacity of 100 GW Solar PV installation by the year 2022. This should be done on a Build Own Operate (B-O-O) basis for an aggregate capacity of 5,000 MW under Phase-II (Tranche-III). Image Source Also read: Indian Railways invites bids for 15 MW solar project with battery storage Also read: Bharat Petroleum floats tender for 15 MW solar, non-solar RE projects

Related Stories

Gold Stories

Next Story
Infrastructure Energy

Inside a Pumped Storage Project: How It Actually Balances the Grid

What happens when the sun sets just as electricity demand starts to rise? Solar generation falls, but homes, factories and businesses still need power. Pumped storage power plants help bridge this gap by storing surplus electricity as gravitational potential energy in elevated water and releasing it when demand increases. As India adds more solar and wind capacity, this ability to shift electricity across hours is becoming increasingly important for grid flexibility.What is a Pumped Storage Power Plant?A pumped storage power plant (PSP) is a long-duration energy storage facility with two reser..

Next Story
Technology

LTTS launches FARM to accelerate deep-tech startups

L&T Technology Services (LTTS) has launched LTTS FARM, a startup engagement platform aimed at accelerating the commercialisation of deep-tech innovations through Engineering Intelligence-led collaboration, co-innovation and market access.Built on the theme of “Collaboration First, Commercialisation Next”, the platform targets startups with Technology Readiness Level (TRL) 4+ solutions that have demonstrated technical feasibility and are ready for industry adoption. LTTS FARM will support startups aligned with LTTS’ key technology focus areas, including Software Defined Mobility, Plan..

Next Story
Infrastructure Energy

REC Wins Top Honour for Hindi Policy Implementation

EC Limited has received the First Prize for outstanding implementation of the Official Language Policy for 2025-26 at the meeting of the Hindi Salahkar Samiti of the Ministry of Power, Government of India.The award was presented to REC by Shri Manohar Lal, Union Minister of Power and Housing and Urban Affairs. Shri Shripad Yesso Naik, Minister of State for Power and New and Renewable Energy; Shri Dinesh Sharma, Rajya Sabha MP; Shri Suresh Kumar Kashyap, Lok Sabha MP; and Shri Pankaj Agrawal, Secretary, Ministry of Power, were also present. Shri Jitendra Shrivastava, IAS, CMD, REC, received the..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code