SECI’s 1.2 GW ISTS-VIII Solar Tender Oversubscribed

1.2 GW SECI ISTS-VIII Solar Tender Attracts Bids For 3.5 GW Capacity With ReNew Power & SoftBank Bidding For 600 MW Each, Says Mercom
11:38 AM (Beijing Time) - 19. February 2020
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Like its previous tranche for ISTS-VII hybrid tender, SECI has received an overwhelming response for its 1.2 GW ISTS-VIII solar tender with bids adding up to a total of 3.5 GW, says Mercom. (Photo Credit: SECI)

Key Takeaways

  • As per Mercom, SECI has received bids with a total of 3.5 GW for its 1.2 GW solar tender
  • The ISTS-VIII solar tender has been oversubscribed with 2.3 GW of extra capacity
  • While ReNew Power & SoftBank aim for 600 MW each, Avaada has bid for 500 MW and 6 companies for 300 MW each

For its 1.2 GW solar power tender launched under interstate transmission connectivity (ISTS) tranche VIII, India’s Solar Energy Corporation of India (SECI) has received bids totaling up to 3.5 GW with a number of big firms bidding higher quantities.

The tender was originally announced in December 2019, followed by a request for selection (RFS) round in January 2020 (see SECI Launches 1.2 GW ISTS-VIII Tender).

According to Mercom India Research, ReNew Power, SoftBank bid for 600 MW each, followed by Avaada claiming 500 MW, while the remaining capacity had suitors like O2 Power, Brookfield through Axis Energy Hyderabad, Eden, Tata, Ayana and IB Solar with each offering bids for 300 MW. Thus, the tender was clearly oversubscribed by 2.3 GW. Final winners for this project are yet to be announced by SECI.

The previous round of ISTS-VII was also oversubscribed as three companies bid for a total 1.62 GW as against 1.2 GW on offer. Finally, Greenko won 900 MW and ReNew Power 300 MW to supply assured peak power and off-peak electricity (see Two Companies Win SECI’s ISTS-VII Hybrid Power Auction). 

In another tender related news from India, Indian government’s solar cell and module maker Central Electronics Limited (CEL) has awarded 44 MW solar power capacity it tendered in December 2019 to be set up on MSEDCL land in Maharashtra to five companies. The winners are Gensol Engineering, Kor Energy India, Purshotam Profiiles, Mitcon Consultancy and Engineering Services and Kalpa Power Private.

CEL is currently looking for buyers to acquire the company from the Indian government (see Indian Module Maker CEL For Sale).

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani