The time limit for the 5 GW grid-connected solar projects (Tranche-III) has been extended under the Central Public Sector Undertaking (CPSU) program (Phase-II) by the Indian Renewable Energy Development Agency (IREDA). The earliest date to submit bids was May 15. The executing agency has extended the bid submission date to May 31, 2021, and the bids will be opened on June 9. IREDA had covered the tariff for the project at Rs 2.20 per kWh as the tender was floated in January this year. Telecommunications Consultants India Limited floated a declaration of interest to pick partners for setting up solar projects under this program following the announcement. The president of India has given the approval to execute CPSU program Phase-II to set up 12 GW of grid-connected projects for use by government entities or self-use in March 2019. IREDA has also issued changes to the request for selection given for the projects. The ceiling tariff for the projects has been raised to Rs 2.45 per kWh from the earlier Rs 2.20 per kWh. Earlier, the maximum time allowed for the commissioning of the full project was 30 months if the allocated capacity was up to 500 MW and 36 months if the allocated capacity was more than 500 MW. Now the maximum time allowed is restricted to 36 months from the date of the issuance of the LoA or LoI. The selected bidder has to submit the duly signed copy of the award of contract to the EPC contractor within 365 days from the date of the issuance of the LoA. Before, the submission of documents was within 180 days by the bidder. IREDA will have the right to encash the earnest money deposit submitted by the developer if the bidder cannot submit the bank guarantee or sign the EPC contract within 365 days, according to another amended clause. Earlier, the time limit was 180 days. Image SourceAlso read: IREDA conferred with “Green Urja Award”