Tender brief

Solar Energy Corporation of India (SECI) issued a tender inviting tariff bids to develop capacity of 2,000 MW manufacturing linked with 7,000 MW project development across India.

Tender details

Total capacity 7,000 MW
Open capacity 7,000 MW
DCR capacity -
Tender scope BOO
Solar park NA
Tendering authority SECI
Offtaker/ Power consumer SECI
Benchmark tariff/ VGF/ CAPEX 2.93
Allocation basis Tariff bid
Technology PV
Bid size 1500 - 6,000 MW
Minimum CUF 17%
Required bank guarantees

EMD: INR 55 million + INR 0.4 million/ MW 
PBG: INR 110 million + INR 0.5 million/ MW 

Technical criteria

Experience in deploying commercially viable and operational technologies

Financial criteria

Minimum net worth requirement is INR 11 billion + INR 8 million/ MW of capacity 
Minimum turnover  requirement is INR 550 million + INR 4 million/ MW of capacity

Commissioning timeline 60 months
Notes
  1. Both bidders have exercised 100% greenshoe option. Final awarded capacity is 8,000 MW for Adani (2,000 MW manufacturing component) and 4,000 MW for Azure (1,000 MW manufacturing component).
  2. Scheduled commissioning timeline is 24, 36, 48 and 60 months for 25%, 50%, 75% and 100% respectively of allocated capacity.

Tender status

Results announced

Tender timeline

Tender release 26 June 2019
Bid submission 20 November 2019
Bid result 17 January 2020
Estimated PPA signing July 2020
Estimated COD July 2025