SECI auctioned a 600MW solar installation bid under Tranche X in Karnataka. The auction owners were handed ownership of the project.
Solar Energy Corporation of India (SECI) issued a 1200 MW capacity Interstate Transmission System (ISTS) tender in July last year. Ayana Renewables and Fortum won the auction of 300MW installation bids each yesterday. The remaining installation ownership will be auctioned on Feb 4, 2022.
The lowest bid price was Rs 2.36/kWh set by Ayana Renewables and Fortum won its share of installation power at Rs 2.37/kWh.The tender was set for power supply in substations for two Districts in Karnataka, Koppal and Gadag. According to the power purchasing agreement (PPA), the projects should be commissioned within 18 months of the effective date of the PPA. The PPA will be valid for 25 years after the commissioning date of the project.
The PPA hands the project ownership to the bid winners along with responsibilities like identifying land, installation, obtaining connectivity and interstate connection approval, long term access etc to supply the power to SECI. The plant developer also will have to declare the annual power utilization capacity of the plants within 1 year of the commercial operation commencement date.
