Solar Energy Corporation of India Limited (SECI) has extended the request for selection bid due date for implementation of the 2,000 MW grid-connected solar power projects (Tranche-I) under the Central Public Sector Undertaking scheme (Phase-ll) with a viability gap funding (VGF) support for self-use or use by Union and state governments or government entities from July 15, 2019 to July 24, 2019.
The VGF will be released in two tranches; 50 per cent on award of contract to the engineering, procurement, and construction (EPC) contractor (including in-house EPC division) by the solar power developer and the balance 50 per cent on successful commissioning of the full capacity of the project.
The developers will sign the agreement with EPC contractor within six months from date of issue of letter of award by SECI. The contractor must bid for a minimum capacity of 1 MW and a maximum capacity of 2,000 MW.
The project involves development of 2,000 MW solar power projects across the country on build, own and operate basis. The Union Government accorded approval to the scheme in March 2019. The solar power projects will be set up by the government entities in a period of four years that is 2019-20 to 2022-23, as per the terms and conditions specified under the scheme. The projects may be implemented as ground mounted, rooftop or floating solar projects.