SECI Invites Bids for 500 MW Solar Projects

17 Feb 2025 CW Team

Solar Energy Corporation of India (SECI) has launched a bidding process for developers to establish 500 MW of interstate transmission system (ISTS)-connected solar power projects under Tranche XIX. The bid submission deadline is March 17, 2025, with the bid opening scheduled for March 20.

Bidders are required to pay a Rs 50,000 document fee and a Rs 20,000 bid processing fee per MW. An earnest money deposit of Rs 942,000 per MW is also mandatory.

Successful bidders must provide a performance bank guarantee of Rs 2.35 million per MW for each project, along with a success charge of Rs 100,000 per MW of contracted capacity to cover administrative, monitoring, and coordination costs. Additionally, they will need to pay Rs 0.02 per KWh to SECI as a payment security mechanism charge.

Bidders must utilise only commercially proven technologies, ensuring timely power supply initiation. They are also required to use modules from the latest Approved List of Models and Manufacturers.

Eligibility requirements include a minimum net worth of Rs 9.42 million per MW of quoted capacity, a minimum annual turnover of Rs 4.53 million per MW during the last three financial years, and an internal resource generation capability of Rs 906,050 per MW. Additionally, bidders must provide an in-principle sanction letter from banks or lending institutions, committing a line of credit for at least Rs 1.13 million per MW for working capital.

In SECI's previous Tranche XVIII auction, ReNew Solar Power, ACME Solar Holdings, and Adani Renewable Energy Holdings Twelve secured contracts to develop 1,000 MW of ISTS-connected solar power projects.

(Mercom)

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