Solar Energy Corporation of India (SECI) has announced the bid results for allocation of solar PV projects under batch one of Phase II of Jawaharlal Nehru National Solar mission (JNNSM).
A total of 68 bids were received from 58 developers, covering 122 projects with a cumulative capacity of 2,170 MW. Of this, 36 projects with a capacity of 700 MW opted to bid under the Domestic Content Requirement (DCR) part of the bidding process and the remaining 86 projects with a capacity of 1,470 MW opted for the open bids.
The lowest and highest VGF sought for projects outside the DCR were INR 1.7m by Gujarat Power Corporation Limited (10 MW) and INR 24.9m by Madhav Infra (10 MW) respectively.
The highest winning bid under the non-DCR category is INR 24.5m (USD 0.4m) by Tata Power Solar.
Under the DCR category, 15 project developers are expected to be invited to sign PPAs for 21 projects, also totaling 375 MW.
Bids by PMP Auto Components, Zandu Realty, Golden Crystal and Green Energy Wind were cancelled as they did not meet the techno-commercial criteria. The bid by Moser Baer was cancelled as they could not provide bank guarantee.
Gujarat and Rajasthan remained the favorite locations for bid.
With the DCR part of the bid being oversubscribed twice over and the non-DCR (open) part four times over, it is likely that the entire capacity of 750 MW will be converted into Letters of Interest (LoIs) by 10th March 2014. The results of the financial bid are announced on 21th February 2014.
Other prominent developers, which are likely to be allocated projects include SunEdison, SolaireDirect, Azure Power, Waaree, IL&FS and Hero Future Energies. Meanwhile leading U.S module supplier First Solar and Indian developer Welspun missed for locations in Gujarat and Rajasthan.
Under the non-DCR category, 15 project developers are expected to be invited to sign power purchase agreements (PPAs) for 24 projects, totaling 375 MW. The average project size per developer would be around 25 MW.