SECI Grants 840 MW of its 1200 MW Hybrid Tender

The Solar Energy Corporation of India (SECI) has announced that it has released the results of its 1200 MW ISTS-connected wind-solar hybrid power projects (Tranche-I) tender.

Two bidders, SBE Renewable Ten Private Limited and Mahoba Solar Private Limited were awarded a total 840 MW capacity of the tender after submitting bids worth 1050 MW.

SBE Renewables has been awarded 450 MW capacity after bidding for the same capacity at a quoted tariff of Rs 2.67/kWh. Mahoba Solar has been awarded 390 MW at Rs 2.69/kWh after submitting a bid for developing half the tendered capacity i.e. 600 MW.

SECI had issued the Request for Selection (RfS) document for setting up of 1200 MW ISTS connected wind-solar hybrid power projects (Tranche-I) on “Build Own Operate” basis. The tender was opened on December 31, 2018, and ended on February 02, 2019.

SECI will now go into a Power Purchase Agreement (PPA) with the two selected project developers for a period of 25 years. As per the announcement, SECI said, “The maximum tariff payable to each is fixed at Rs 2.85/kWh for the entire term of 25 years. The Bidders will be free to avail fiscal incentives like accelerated depreciation, concessional custom duties, tax holidays, etc. available for such projects as per prevailing conditions.”