The Solar Energy Corporation of India is moving ahead with another solar power tender as it looks to achieve the highly ambitious targets set by the government of India.
The Solar Energy Corporation of India (SECI) has floated a tender of 500 MW of solar photovoltaic power projects under the National Solar Mission. The tender is part of the Phase II Batch III of the National Solar Mission which pertains to projects commissioned through the viability gap funding route.
Project developers shall set up the projects in the southern state of Andhra Pradesh and will be allowed to bid for units of 50 MW capacity each. The developers will, however, not be bidding for tariffs, but rather for capital cost assistance that they will require from the government. The developer that quotes the lowest bid for assistance required will be selected first.
The Ministry of New & Renewable Energy recently lowered the tariff at which these projects shall sell power to the SECI. At least 2 GW of solar power capacity will be auctioned through the viability gap funding route and selected projects will receive Rs 4.43 per kWh (US¢6.82 per kWh).
The tariff has been reduced, keeping in view with the rapidly falling capital cost requirement and increasing competitiveness among project developers.
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