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The Solar Energy Corporation of India (SECI) has released a Request for Selection (RfS) for selecting solar power developers to establish 1,200 MW ISTS-connected solar PV power projects in India. This initiative, known as SECI-ISTS-XVI, invites bids from developers who have either completed or are in the process of constructing solar PV projects and have untied capacity. These developers will benefit from a longer Power Purchase Agreement (PPA) period, depending on the gap between the actual commencement of the power supply and the scheduled commencement date. The timeline for project completion is set at 24 months. Developers must submit a Performance Bank Guarantee (PBG) or Contract Performance Security amounting to ?23,55,000 per MW. The deadline for bid submission is July 16, 2024, with the bids set to be opened on July 18, 2024. The bidding process will follow a Single Stage, Two-Envelope procedure, this competitive bidding aims to select solar power developers who will set up ISTS-connected solar PV projects and the necessary transmission network up to the interconnection point, primarily to supply solar power to SECI. The selection process will be technology-agnostic, focusing on deploying solar photovoltaic technology. Under this RfS, a bidder, along with its parent, affiliate, ultimate parent, or any group company, must submit a single bid offering a minimum contracted capacity of 50 MW and a maximum of 600 MW. The total capacity allocated to a bidder, including any affiliates, will be capped at 600 MW. Bidders are required to declare the annual Capacity Utilization Factor (CUF) for their projects at the time of bid submission. They are allowed to revise this CUF once within the first year after starting the power supply. The revised CUF must be higher than the initially declared CUF. After the first revision, the CUF will remain unchanged for the entire 25-year PPA term. The declared or revised annual CUF cannot be less than 17%. Developers must maintain generation levels to achieve an annual CUF within +10% and -15% of the declared value for the first 10 years and within +10% and -20% for the remaining PPA period. However, shortfalls in power supply due to force majeure events will not be penalized. SECI will accept part commencement of power supply, with a minimum capacity of 50 MW for each part, without altering the SCSD. The PPA will remain in force for the specified period, regardless of the part or full commencement dates of the power supply. The SCSD for full project capacity supply is 24 months from the effective date of the PPA. The maximum period allowed for commencing power supply from the full project capacity, with applicable penalties, is up to six months from the SCSD. Bidders must submit an Earnest Money Deposit (EMD) of ?9,42,000 per MW per project in the form of a Bank Guarantee. This guarantee must be valid for 12 months from the last bid submission date. If the EMD is encashed, it will include all applicable taxes. An electronic Bank Guarantee (e-BG) is also acceptable for the EMD. Successful bidders will be required to submit a PBG valued at ?23,55,000 per MW per project before signing the PPA. The PBG must be valid for 12 months after the SCSD of the project. Upon receipt and verification of the PBG, the EMD bank guarantee will be returned to the successful bidder. The PPA will only be signed after successful verification of the PBG. Any shortfall in the PBG’s validity before signing the PPA must be rectified by extending its validity. This RfS aims to attract experienced solar power developers to contribute to India’s renewable energy capacity through competitive bidding, ensuring timely project completion and reliable power supply. |
