SECI announces winners for 1.2 GW solar tender

The Solar Energy Corporation of India (SECI) has auctioned 1.2 GW of the interstate transmission system (ISTS) connected solar projects (Tranche VIII). In the auction, SBE Renewables Fifteen Private Limited (SoftBank), AMP Energy Green, and Eden Renewable Alma won capacities of 600 MW, 100 MW, and 300 MW respectively at the tariff of Rs 2.50 per kWh. ReNew Solar won only 200 MW capacity out of the 600 MW it bid at Rs 2.51 per kWh under the bucket-filling method. Although the tender was announced in januaryThe installation of the solar PV power projects under this tender will be on a build-own-operate (BOO) basis. The tender was floated for 1.2 GW and was oversubscribed by 2.3 GW, indicating good interest from bidders.

Bidder/Developer Capacity (MW) Quoted tariff (Rs perkWh)
SB Energy 600 2.50
AMP Energy Green 100 2.50
EDEN Renewable 300 2.50
ReNew Power 200* 2.51
*ReNew Power bid for 600 MW but won only 200 MW

Source: SECI

Recently, SECI amended the power purchase and sale agreement for this 1.2 GW solar tender, adding another point to the existing ‘change in law’ clause. The additional clause states that in case of a change in the law on account of anti-dumping duty or safeguard duty or customs duty on solar photovoltaic (PV) modules, the solar power developer will be entitled to either an increase or decrease in the tariff. This increase or decrease in tariff will be for an amount equivalent to Rs 0.05 per kWh for every increase or decrease of Rs 100,000 of impact on the cost of solar PV modules.

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