State-run power producer NTPC has invited bids to set up an aggregate 1 GW of grid-connected solar power projects anywhere in India. The installations will be set up on a build-own-operate-transfer (BOOT) basis on the land identified and arranged by the developers.
Developers can compete for 250 MW up to all of 1 GW capacity on offer, in 10 MW multiples.
NTPC shall purchase the solar power from these plants at an initial tariff of INR 1.91/kWh for the first contract year, which shall be escalated at 01 paisa/kWh per year for the duration till the 25th year.
The power purchased shall be utilized by NTPC to meet its scheduled generation from Solapur and Kudgi thermal power stations under the scheme of “Flexibility in Generation and Scheduling of Thermal Power Stations to reduce emissions” issued by the Ministry of Power.
NTPC shall take over the special-purpose vehicle (a company specially incorporated/acquired as a wholly-owned subsidiary of the successful bidder for the execution of this project) after the completion of five years from the commercial operation date.
The selection of solar power developers shall be made based on the lowest quoted ‘special-purpose vehicle handover cost’ through competitive bidding.
“The solar projects already under construction or yet to be commissioned or commissioned but selling solar power on short-term merchant basis may also be considered for the selection, provided these projects have not been accepted under any State or Central Scheme and also do not have obligation to sell the power to any beneficiaries. A partial capacity (minimum 250 MW) of solar power plants for which PPA has not been signed can also be offered by the bidder,” as per the tender document.
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