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).

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)