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In order to further promote the development of renewable energy and achieve the 2022 solar development target, the Solar Energy Corporation of India has launched a tender for
2 GW solar projects.
This is also the largest solar tender in a single round directly issued by the Indian solar company to date
.
According to the tender announcement, interested developers are free to choose the project development address
.
In addition, the maximum bid price for project developers was set at Rs 2.
93/kWh, which is highly competitive compared to India's
all-time lowest bid of Rs.
2.
44/kWh.
In addition, the successful project developer will sign a power purchase agreement (PPA) with SECI, a government agency, which will increase the confidence of lenders in the project
.
SECI will collect a trading margin of $0.
07/kWh ($0.
001/kWh) and sign back-to-back power purchase agreements
with utilities interested in purchasing solar.
SECI's wind energy tender launched last year followed a similar model
.
This model has been applied to some of the early utility-scale solar power projects
under the National Solar Program.
The tender specifies the performance criteria that the project developer needs to comply with, as well as the lower than expected power generation
.
If the project developer generates excess power, SECI may purchase it at a slightly lower price, and the developer will not seek alternative avenues
for selling excess power in the market.
On the other hand, the availability of transmission capacity for fast-growing renewable energy capacity remains a challenge
in India.
Some solar and wind developers have recently complained that utilities have asked them to reduce the amount of power generated by the
grid's capacity to run low.
Compensation mechanisms
for these cases are also outlined in the tender notice.
In order to further promote the development of renewable energy and achieve the 2022 solar development target, the Solar Energy Corporation of India has launched a tender for
2 GW solar projects.
This is also the largest solar tender in a single round directly issued by the Indian solar company to date
.
According to the tender announcement, interested developers are free to choose the project development address
.
In addition, the maximum bid price for project developers was set at Rs 2.
93/kWh, which is highly competitive compared to India's
all-time lowest bid of Rs.
2.
44/kWh.
In addition, the successful project developer will sign a power purchase agreement (PPA) with SECI, a government agency, which will increase the confidence of lenders in the project
.
SECI will collect a trading margin of $0.
07/kWh ($0.
001/kWh) and sign back-to-back power purchase agreements
with utilities interested in purchasing solar.
SECI's wind energy tender launched last year followed a similar model
.
This model has been applied to some of the early utility-scale solar power projects
under the National Solar Program.
The tender specifies the performance criteria that the project developer needs to comply with, as well as the lower than expected power generation
.
If the project developer generates excess power, SECI may purchase it at a slightly lower price, and the developer will not seek alternative avenues
for selling excess power in the market.
On the other hand, the availability of transmission capacity for fast-growing renewable energy capacity remains a challenge
in India.
Some solar and wind developers have recently complained that utilities have asked them to reduce the amount of power generated by the
grid's capacity to run low.
Compensation mechanisms
for these cases are also outlined in the tender notice.
