The Solar Energy Corporation of India (SECI) has recently decided to extend the deadline for bids on the 1.2 GW wind-solar hybrid power projects tranche II tender to 5 May 2019. The previous deadline was set to 23 April 2019 but as the tender was undersubscribed by almost 50%, therefore the extension was inevitable. Reportedly the low response is due to the low ceiling price of the tender combined with the allocation challenges of new projects as regions with high potential have already been exploited.
Only four bids for 600 MW of capacity were placed: Adani Green Energy (250MW), Sprng Energy (100 MW), Renew Power (50MW) and French Engie (200MW).
The ceiling price for bids is INR2.7/kWh (US$0.038/kWh), slightly lower than the rate set in the previous tender (INR2.85/kWh; US$0.040/kWh) which had been oversubscribed by nearly 100%. Awarded projects will be built under a build-own-operate (BOO) basis with a 25-year Power Purchase Agreement (PPA).
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