SECI

Solar Energy Corp. of India will sign 25-year power purchase agreements for the projects, which developers will be free to build, own and operate anywhere in India.

A new series of tweaks by Solar Energy Corp. of India appear to have paid off, as the organization’s ambitious, manufacturing-linked 7 GW solar tender has been oversubscribed by 1 GW.

Bidders interested in competing for a tender which will allocate 6 GW of solar capacity linked, pro rata, with 2 GW of manufacturing output now have until September 11 to register their bid as administrator the Solar Energy Corporation of India will amend the exercise to incorporate developer feedback.

Unlike the other, India-wide 1.2 GW tender rolled out simultaneously yesterday, the delivery point for a second wave of projects will be designated inter-state transmission system substations in the state of Madhya Pradesh.

The Solar Energy Corporation of India has invited bids to set up 1.2 GW of grid-connected solar under the fifth phase of its national interstate transmission system program. The projects – to be established on a build, own, operate basis – will be awarded through e-bidding and a reverse auction with a tariff ceiling of Rs2.65/kWh. Bidding closes on July 31.

The Solar Energy Corporation of India’s 1.2 GW auction saw four companies – Ayana Renewable, ReNew Power, NYSE-listed Azure Power and Mahindra Susten – secure a combined capacity of 1.15 GW at INR2.54/kWh. Avaada Energy landed the remaining 50 MW, at Rs2.55.

With last year’s embarrassing manufacturing-linked capacity tender limping along, it has been reported the Indian government – whichever form it takes after the current elections – is considering another tender to incentivize the establishment of a domestic solar industry.