IREDA 5GW CPSU scheme solar tender: These PSUs are winning bidders

NTPC Limited, SJVN, NLC India Ltd, IRCON and NHPC Ltd have emerged as winning bidders for a tender floated by IREDA under the CPSU scheme-II
IREDA 5GW CPSU scheme solar tender: These PSUs are winning bidders
  • The tender had been floated by IREDA earlier in January this year for the setting up of 5,000 MW grid-connected solar power projects (Tranche-III) under CPSU Scheme Phase-II
  • Power behemoth NTPC Limited has bagged 1,990 MW after quoting a viability gap funding (VGF) of Rs 44,95,000 Lakh/MW

New Delhi: State-run NTPC Limited, Satluj Jal Vidyut Nigam Ltd (SJVN), NLC India Ltd, IRCON and NHPC Ltd have emerged as winning bidders for a tender floated by Indian Renewable Energy Development Agency (IREDA) under the CPSU scheme-II, documents accessed by PSU Watch showed on Friday. The tender had been floated by IREDA earlier in January this year for the setting up of 5,000 MW grid-connected solar power projects (Tranche-III) under CPSU Scheme Phase-II. 

After multiple extensions, financial bids for the tender opened on September 20. 

NTPC bags 1,990 MW, SJVN & NHPC 1,000 MW each

Power behemoth NTPC Limited has bagged 1,990 MW after quoting a viability gap funding (VGF) of Rs 44,95,000 Lakh/MW. SJVN and NHPC both won 1,000 MW of solar power plant capacity. While SJVN quoted a VGF of Rs 44,72,000 lakh/MW, NHPC quoted Rs 44,90,000 lakh/MW. NLC India Ltd won 510 MW at a VGF of Rs 44,74,990 lakh/MW and IRCON won 500 MW after quoting a VGF of Rs 44,90,000 lakh/MW. The maximum permissible VGF limit was Rs 55 lakh per Megawatt.

In a regulatory filing to the stock exchanges on Friday, IRCON said, "… this is to inform that Ircon International Limited (IRCON) has won a bid to set-up 500 MW solar power plant through e-Reverse auction with a Viability Gap Funding (VGF) of Rs 224.70 crore under CPSU Scheme-II floated by Indian Renewable Energy Development Agency (IREDA). The approximate cost of the project is Rs 2,400 crore."

IREDA solar tender: Plants to be set up on B-O-O basis

According to the request for proposal floated by IREDA, the tender involved setting up of grid-connected solar PV projects anywhere in India on "Build Own Operate" (B-O-O) basis for an aggregate capacity of 5,000 MW under Phase-II (Tranche-III). "Power generated from above Projects shall be solely for self-use or use by Government/Government entities, either directly or through Discoms on payment of mutually agreed usage charges of not more than Rs. 2.20/kWh," the document said. Later, the ceiling tariff was raised to Rs 2.45/Kwh.

CPSU scheme

The "Central Public Sector Undertaking (CPSU) Scheme Phase-II (Government Producer Scheme) involves setting up of 12,000 MW grid-connected solar photovoltaic (PV) power projects by government producers with Viability Gap Funding (VGF) support for self-use or use by government/government entities, either directly or through distribution companies (DISCOMS).

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