Adani and Azure win SECI’s manufacturing linked tender

Adani Green Energy and Azure Power have emerged as winner of the 7 GW manufacturing-linked solar tender floated by the Solar Energy Corporation of India (SECI). Adani Green Energy and Azure Power both won the bid to develop 2,000 MW of projects with 500 MW of manufacturing capacity. The winning tariff quoted by both the companies was Rs 2.92 per kWh. The tender also had a greenshoe option, where the companies could opt for an additional capacity to both develop and manufacture. Under this, Adani Green Energy won an additional capacity of 1,500 MW of module and cell manufacturing and 6 GW of project capacity and Azure Power won 500 MW of manufacturing and 2 GW of solar project capacity.

In November 2019, Adani Green Energy submitted a bid for 4 GW of solar projects with 1 GW of manufacturing component. Azure and Navyug submitted bids for 2 GW of projects each with 500 MW of manufacturing units each. With this the tender was oversubscribed.

SECI had announced various amendments for this tender to make it more appealing to the interested developers. It had notified that under the bidding package A, one-fourth of the cumulative allocated capacity will need to be commissioned within 48-60 months from the date when the PPAs have been signed. The earlier notification stated that the allocated capacity should be commissioned within 48-60 months from the date of the issue of letter of award (LoA).

Moreover SECI had notified that the solar power developers will be required to set up a cumulative annual solar manufacturing capacity of 2 GW, which would be set up over two years from the date of execution of the contract agreement. However, earlier, it was stated that the selected developers would set up the cumulative annual solar manufacturing capacity of 2 GW for two years from the date of the LoA.

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