SECI relaxes norms for 10 GW solar auctions linked to manufacturing

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New Delhi | Published: September 20, 2018 5:15:29 AM

Solar Energy Corporation of India (SECI) has eased a few norms for firms potentially participating in the bids.

As per the new amendments, the amount of bank guarantee to be submitted by developers has been reduced by almost 25% to Rs 466 crore. (Representational photo)

Following multiple postponements for the bid submission dates for the forthcoming 10,000 MW manufacturing-linked solar auctions, the Solar Energy Corporation of India (SECI) has eased a few norms for firms potentially participating in the bids.

As per the new amendments, the amount of bank guarantee to be submitted by developers has been reduced by almost 25% to Rs 466 crore. The ceiling tariff for auctions has also been cut to Rs 2.75/unit, instead of the Rs 2.93/unit set earlier.

To boost solar manufacturing, the government had introduced the manufacturing-linked solar scheme, where developers would be provided with assured power purchase agreements (PPA) against the capacity of solar module manufacturing plant they set up in the country. As much as 3 GW of cumulative annual solar manufacturing units are seen to be set up over three years, resulting in 10 GW of new generating capacities.

The last date for accepting these bids is September 27.

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