ISTS-Connected Tranche-V Wind-Solar Tender

• SECI has launched 1.2 GW hybrid wind-solar ISTS connected tranche-V tender
• Power generated will be procured by SECI to be further sold to buying entities and bulk consumers
• Minimum and maximum capacity to bid for is 50 MW, and 1.2 GW, respectively

The Solar Energy Corporation of India (SECI) has launched a request for selection (RFS) round as tranche-V interstate transmission system (ISTS) connected wind-solar hybrid power projects with 1.2 GW capacity.

Projects need to be set up on build-own-operate (BOO) basis at locations chosen by the bidder or hybrid project developer (HPD) with minimum project capacity of 50 MW and maximum capacity a single bidder stands to win is the entire 1.2 GW on offer.

Power generated will be supplied to SECI as the offtaker under 25-year power purchase agreements (PPA) who then will also sign back-to-back power sale agreements (PSA) with buying entities and bulk consumers. Solar and wind power purchased by the latter will enable them to fulfil their solar and non-solar renewable purchase obligations (RPO).

A pre-bid online meeting is scheduled for November 1, 2021 and the last date to submit bids is December 6, 2021. Tender details are available on SECI's website.

In August 2021, SECI auctioned 1.2 GW wind-solar hybrid capacity under ISTS tranche-IV for lowest winning bid of INR 2.34 per kWh (see India PV Snippets: SECI, Tata, Loom, ArcelorMittal, ICRA).

This tender is also aimed at enabling the achievement of India's target to install 175 GW of renewable energy capacity by 2022-end and is part of the country's Wind-Solar Hybrid Policy launched in May 2018 (see India Launches Wind-Solar Hybrid Policy).

According to an IEEFA and JMK Research study, India's cumulative wind-solar hybrid capacity potential is expected to grow to around 11.7 GW by 2023 (see 11.7 GW: India's Wind-Solar Hybrid Capacity by 2023).