Adani Green Energy, ABC Renewables, AMP Energy win SECI’s 1,200 MW hybrid tender

• ABC Renewables, a subsidiary of Axis Energy and AMP Energy won 380 MW and 130 MW respectively

• SECI had floated the tender under tranche-III of the interstate transmission-connected (ISTS) programme on January 14 this year

New Delhi: Adani Green Energy has walked away with the biggest share of the pie in the 1,200 MW hybrid auction conducted by the Solar Energy Corporation of India (SECI) on Wednesday as it bagged 600 MW at a tariff of Rs 2.41 per unit. In addition to Adani Green Energy, ABC Renewables, a subsidiary of Axis Energy and AMP Energy won 380 MW and 130 MW respectively at the same tariff, while Acme Solar won 90 MW at a tariff of Rs 2.42 per unit.

1,200 MW tender received bids for 3,000 MW: Source

Even though previous hybrid power project tenders floated by SECI had went undersubscribed, the 1,200 MW tender had received bids for 3,000 MW, a source at SECI told PSU Watch. SECI had floated the tender under tranche-III of the interstate transmission-connected (ISTS) programme on January 14 this year.

Projects need to be completed within 18 months

The tender document said that selected bidders will have to set-up the projects on a build-own-operate basis and sell power to SECI. The rated installed project capacity of one of the components of the hybrid project must be 25 percent of the capacity of the other, while, the minimum capacity utilisation factor should be at 30 percent, the tender said.

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The minimum bid capacity was fixed at 50 MW, with at least 50 MW of project capacity being proposed at each project site, while a maximum of 1,200 MW was allowed. According to the tender, the project has to be completed within 18 months.

The backdrop

The news comes a day after the Ministry of New and Renewable Energy (MNRE) directed SECI, NTPC Limited and NHPC Limited to reduce performance security to 3 percent of the contract for renewable energy projects. The ministry has also asked the three PSUs to replace the provision for bid security with bid security declaration and remove the requirement for additional security deposit from contracts. The decision was taken as the Centre had received representations from contractors who claimed that financial crunch in the economy due to COVID-19 was affecting the execution of projects and the provision for various kinds of security deposits in government tenders was putting off potential bidders.

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