Solar Energy Corporation of India (SECI) has issued amendments to its recent tender for 2 GW of the interstate transmission system (ISTS) connected wind projects (Tranche IX). The capacity of the 2 GW tender has now been increased to 2.5 GW.
The tender was launched in March 2020.
In addition to increasing the overall capacity of the tender to 500 MW, SECI has also changed the title of the document to show that the tender was issued for mixed wind power projects.
Composite wind power projects are those where electricity generated from wind-based sources is combined with solar-based electricity. The wind power component is expected to contribute at least 80% of the contracted capacity.
The corporation also clarified that wind and solar projects can be located at the same place or different locations. However, it is noted that for the mixed wind power project both the individual wind and solar generation components must inject electricity into the ISTS grid through a metering point.
Among other amendments, the SECI revised the financial eligibility criteria for the tender. Applicants are now required to have a minimum turnover of 7.7 million (~ $ 103,096) / MW in the last financial year (FY 2018-19), up from the earlier 5.7 million (~ $ 76,317) / MW.
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It raised the amount of depreciation, interest, and taxes (PBIT) to ₹ 1.54 million (~ $ 20,619) / MW in the previous fiscal year, from ₹ 1.14 million (~ $ 15,263) / MW.
Additionally, applicants are now expected to provide an approval letter for at least $ 1.93 million (~ $ 25,841) / MW quoted from lenders prior to ting 1.43 million (~ $ 19,146) / MW.
The declared minimum annual capacity utilization factor (CUF) was also raised to 30% from the earlier 22%.
The SECI has amended parts of the Power Project Agreement (PPA) documents to reflect changes in "project" and "power project". The terms now also include the solar aspect of mixed wind projects.
The tweak was also made to demonstrate that the selected wind power developer now hopes to financially close the projects within 12 months from the effective date of the agreement. Earlier, the financial closure was expected within seven months from the PPA's effective date.
These amendments come on the heels of the Ministry of New and Renewable Energy (MNRE) for a fee-based competitive bidding process for the purchase of power from 2.5 GW with solar power from recent interstate transmission system connected wind projects. Guidelines were issued. The Ministry had stated that SECI would act as the nodal agency for the implementation of the program.
Earlier, MNRE issued its guidelines for a fee-based competitive bidding process for the purchase of electricity from grid-connected wind-solar hybrid projects.
Earlier, MNRE had received the President's approval for the proposed program for the installation of 2.5 GW of wind and solar hybrid projects involving ISTS across the country on the basis of their own operations.
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