Solar Energy Corporation of India (SECI) has floated a tender for 1,200 MW of ISTS-connected solar power projects (Tranche X) in Karnataka. Bids must be submitted by September 3 and will be opened on September 8. A pre-bid meeting is scheduled on July 26. Interested bidders must pay an earnest money deposit of Rs 400,000 per MW. Before signing the power purchase agreement (PPA) with SECI, the winning bidder must submit a performance bank guarantee of Rs 800,000 per MW. The PPAs will be valid for 25 years after the projects are completed. The winning bidder will be in charge of locating, installing, and owning the project, as well as obtaining connectivity, long-term access, necessary approvals, and interconnection with the ISTS network for power supply to SECI. Under this scheme, Gadag and Koppal ISTS substations will be given a maximum injection capacity of 600 MW. A bidder can submit a single bid with a minimum capacity of 50 MW and a maximum capacity of 1,200 MW. The projects should only be quoted in increments of 10 MW. The project should be completed within 18 months of the effective date of PPA. Following the e-reverse auction and issuance of letters of award (LoAs), SECI and the Karnataka Solar Power Development Corporation Limited (KSPDCL) will assist successful bidders in acquiring land on a sub-lease basis from KSPDCL. Once LoAs are issued, KSPDCL will begin leasing land and signing contracts with farmers at Rs 25,000 per acre plus 5% escalation every two years. The developers will be given land at 4 acres per MW. Solar developers must apply for connectivity within 30 days of receiving LoAs, and copies of their applications must be submitted to SECI. Bidders must declare the annual capacity utilisation factor (CUF) of their projects when submitting a response to the tender. Within the first year after the date of commercial operation, the developers will be allowed to revise the plan once. The declared annual CUF should never fall below 17%. To participate in the bidding process, bidders must have a net worth of at least Rs 800 crore per MW, an annual turnover of at least Rs 414.5 crore per MW and an internal resource capability of profit before depreciation, interest, and taxes (PBDIT) for a minimum of Rs 8.3 lakh per MW of the quoted capacity as of the last day of the previous fiscal year. The bidder must also have a letter of approval from the lending institutions committing a line of credit for a minimum of Rs 103.6 crore per MW of the quoted capacity to meet the working capital requirements of the project. Image Source Also read: NHPC invites bids for 600 MW ISTS solar project in Rajasthan Also read: SECI invites bids for 100 MW solar plant in Chhattisgarh