Tender for 1200 MW of ISTS-connected wind projects is issued by SECI
Under Tranche XIII, SECI has issued tender for 1.2GW of ISTS connected wind projects with a bid submission deadline of February 18, 2022 …
As part of Tranche XIII, the Solar Energy Corporation of India (SECI) is inviting bids to develop 1,200 MW of wind power projects in India that are interstate transmission system (ISTS)-connected. A single bid can be submitted offering a capacity of 50 MW to 1,200 MW by the bidders, specifying their capacity in multiples of 10 MW.
Important Dates & Deposits: The deadline for bids is February 18, 2022. An opening of bids will take place on February 23. As an earnest money deposit, bidders are required to furnish INR 1.32 million per MW. A performance bank guarantee of INR 3.31 million per MW per project must also be provided by the successful bidder before signing power purchase agreements.
Scope OF Work: It entails identifying the land, installing it, and obtaining ownership, long-term access, as well as approval and interconnection with the ISTS network to supply power to SECI. As per the tender document, land acquisition for wind energy projects will be the responsibility of the project developers. This will in no way be the responsibility of SECI.
Eligibility Criteria: Following eligibility criteria need to be fulfilled by the bidder in order to participate in the competitive bidding process;
As of the last date of the previous financial year, the bidders’ net worth should be INR 13.26 million per MW of quoted capacity. Also, the bidder must have an annual turnover of at least INR 5.18 million per MW of the quoted capacity as of the previous financial year.
The internal resource generation in form of profit before depreciation, interest, and taxes should not be less than INR 1.03 million per MW of the quoted capacity during the last financial year.
To meet the working capital requirements of the project, the bidder must have an in-principle approval letter from the lending institutions committing a ‘Line of Credit’ for a minimum of INR 1.29 million per MW of the quoted capacity.
At the time of financial closure, bidders must also provide details on the wind turbine which will be installed in the project. Under this program, only certified wind turbine models listed in the ‘Revised List of Models and Manufacturers’ issued by the Ministry of New and Renewable Energy will be permitted.
An annual capacity utilization factor (CUF) of no less than 22% must be declared. During the 25 years of the PPA, the wind developers should maintain generation to achieve annual CUFs of not less than 80% and no more than 120% of the declared CUFs.
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