SECI Invites Bids for 500 MW Offshore Wind Project in Gujarat

19 Sep 2024 CW Team

The Solar Energy Corporation of India (SECI) has invited proposals for developing a 500 MW offshore wind power project in the Gulf of Khambhat, Gujarat. The project, spread across 202 sq km, will be awarded on a build-own-operate basis.

The selected developer will enter a 25-year power purchase agreement (PPA) with SECI, which will supply the power to Gujarat Urja Vikas Nigam. The project will also qualify for viability gap funding (VGF), with a maximum support of ?8.128 crore per MW. The VGF will be disbursed in four stages, based on project milestones.

The Ministry of New and Renewable Energy (MNRE) will lease the seabed for 35 years, with developers paying ?1 lakh per sq km annually. The project site will be awarded through an e-bidding and e-reverse auction process.

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