Tender detail

Tender brief

Indian Renewable Energy Development Agency (IREDA) issued a tender inviting VGF bids to develop 5,000 MW solar capacity under CPSU scheme Phase-II for government entities across India.

Tender details

Total capacity

5,000 MW

Open capacity

0 MW

DCR capacity

5,000 MW

Storage capacity

Tender scope

BOO

Solar park

Tendering authority

Others

Offtaker/ Power consumer

C&I consumer

PPA tenure

25 years

Benchmark tariff/ VGF/ CAPEX

INR 5.5 million/ MW

Allocation basis

VGF bid

Technology

Bid size

1 - 5,000 MW

Minimum CUF

Required bank guarantees

EMD: 0.4 million/ MW
PBG: 50% of VGF amount

Technical criteria

Experience in commercially established and operational technologies

Financial criteria

Positive net worth

Commissioning timeline

30 months

Notes

Power shall be supplied to government entities or PSUs at a fixed price of INR 2.45/ kWh.
Only government entities or PSUs are allowed to participate in the tender.
VGF shall be released in two tranches i.e. 50% on EPC contract award and remaining 50% on commissioning.
Bids have been submitted by NTPC, SECI, NHPC, SJVN, NLC India, IRCON International, and Indian Oil.

Successful bidders:

Developer	Bid capacity, MW	Allocated capacity, MW	VGF, INR/ MW
SJVN	1,000	1,000	4.472 million
NLC	510	510	4.474 million
NHPC	1,000	1,000	4.490 miliion
IRCON	500	500	4.494 milllion
NTPC	2,500	1,990	4.495 million
SECI	1,200	-
Indian Oil	250	-