India support the development of renewable energy industry

The Indian Solar company SECI date amended the fourth round of federal wind power bidding requirements to encourage more enterprises to participate in and support the development of the domestic renewable energy industry.

First, SECI modified the original request (RfS) document so that project developers willing to participate in the bidding could submit various fees electronically in addition to paper materials. This is very beneficial to companies located near the SECI offices in Delhi's national capital area and foreign companies planning to participate in bidding.

Second, SECI has also diluted the requirements of some foreign companies in submitting auditing financial documents. This will be a major opportunity for foreign companies wishing to participate in tendering, and it will also attract more international companies into India's wind energy market. This is also important because India plans to open up the offshore wind market soon. Indian companies have no experience and may cooperate with international companies.

For developers who have successfully won the bid, if they miss the date planned for the project, there is also good news. According to the original RfS document, if the developer will delay for more than six months during the trial run of the project, the tax rate must be reduced by Rs 0.50/kWh (0.77 cents/kWh) as a “penalty” every day. However, this standard has now been lowered by 70% to INR 0.15/kWh (0.23 cents/kWh).

In addition, project developers will find that there are several other provisions that are slightly modified. This includes provisions for the sale of surplus electricity generated by the project to third-party buyers. The Rewa Solar Park tender contains similar provisions and is considered a milestone in the Indian solar market.

SECI plans to regularly bid for thousands of megawatts of capacity in the coming months in order to achieve the goal of increasing its installed capacity to 60 GW by March 2022. The third round of federal tenders held last month will stabilize the tariff at 2.44 rupees/kWh (3.8 cents/kWh), which is still the lowest wind cost in India.

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