The Solar Energy Corporation of India Limited (SECI) has issued a request for proposal (RfP) to scheduled commercial banks and financial institutions. The RfP is for the sanction of Rs 27.20 billion term loan on a single/multiple bank lending basis at a competitive rate of interest for developing a 700 MW solar project. The project is proposed to be developed at Radhanesda in Gujarat.
The Radhanesda solar project is part of a larger 1,200 MW capacity allocated to SECI under the Central Public Sector Undertaking (CPSU) Scheme Phase-II. The project cost is estimated to be around Rs 33.93 billion, net of central financial assistance under the CPSU scheme and viability gap funding by the Ministry of New and Renewable Energy under the Solar Park Scheme. The power from the project will be supplied to Gujarat Urjia Vikas Nigam Limited at a tariff of Rs 2.45 per kWh.
Furthermore, power generated from the project will be evacuated through the proposed Gujarat Transmission Company Limited’s 220 kV substation at Radhanesda. Tendering for the procurement of modules, power transformers, and the balance-of-system components is currently underway. The expected scheduled commercial operation date for the project is February 6, 2028.
