SECI issue Tender for Selection of WPD for Setting up of 1.2 GW ISTS-connected Wind Power Projects (SECI-Tranche-XX) – EQ

Summary:

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### Key Project Details

| Parameter | Details |
|———–|———|
| Total Capacity Offered | 1200 MW |
| Minimum Bid Capacity | 50 MW |
| Maximum Bid Capacity per Bidder | 600 MW (including Parent/Affiliate/Group Companies) |
| Project Model | Build Own Operate (BOO) |
| PPA Term | 25 years from Scheduled Commencement of Supply Date (SCSD) |
| SCSD | 24 months from Effective Date of PPA |
| Land & Connectivity | In scope of Wind Power Developer (WPD) |
| Delivery Point | ISTS substation (default); STU/InSTS possible with Buyer consent |

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### Critical Costs & Financial Instruments

| Item | Amount |
|——|——–|
| Cost of RfS Document | ₹50,000 + GST (non-refundable) |
| Bid Processing Fee | ₹20,000/MW + GST (max ₹20,00,000 + GST) |
| Earnest Money Deposit (EMD) | ₹13,68,000 per MW per Project (BG/POI/Surety Bond) |
| Performance Bank Guarantee (PBG) | ₹34,20,000 per MW per Project |
| Success Charges | ₹1,00,000 per MW + taxes (50% post-LoA, 50% pre-PPA) |
| Trading Margin (SECI) | ₹0.07/kWh |
| PSM Charges (optional) | ₹0.02/kWh discount (for payment security mechanism coverage) |

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### Eligibility Criteria

#### A. General Eligibility (Clause 36)
– Bidder must be a **Company** (Proprietorship/Partnership/Trust/LLP not allowed)
– **Consortium allowed** but each member must have non-zero equity share; Lead Member with ≥51% share
– Foreign companies can participate (standalone or as consortium member) but must form Indian SPV with ≥51% shareholding
– **Land border restriction:** Bidders from countries sharing land border with India must be registered with Competent Authority (per MoF OM dated 23.02.2023)
– No willful default, blacklisting, or insolvency proceedings

#### B. Technical Eligibility (Clause 37)
– Only **RLMM-listed** wind turbine models (MNRE/NIWE) allowed as on SCSD
– Commercially established and operational technologies only
– GPS-enabled Automatic Weather Station (AWS) required
– Cyber security compliance as per Central Government directives

#### C. Financial Eligibility (Clause 38)

| Parameter | Requirement |
|———–|————-|
| **Net Worth** | ≥ ₹1,36,80,000 per MW of quoted capacity (as on FY 2024-25 or within 7 days of bid submission) |
| **Liquidity (any one)** | (i) Annual Turnover ≥ ₹70,77,668 per MW, OR (ii) PBDIT ≥ ₹29,40,000 per MW, OR (iii) In-principle sanction letter from financial institution for ≥70% debt requirement |
| **Affiliate Support** | Allowed with Board Resolution committing equity & PBG support |
| **Consortium Aggregation** | Financial criteria met on aggregate basis |

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### Key Timelines (from Bid Information Sheet)

| Activity | Date |
|———-|——|
| RfS Issue Date | 21.04.2026 |
| Pre-bid Meeting | To be notified on ISN-ETS/SECI website |
| Bid Submission Deadline | As per NIT on ISN-ETS portal |
| Techno-commercial Bid Opening | As per NIT on ISN-ETS portal |
| e-Reverse Auction | Intimated to eligible bidders |

(Note: Specific dates not provided in extracted pages – refer to ISN-ETS portal)

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### Bid Submission Process (Clause 28)

**Online Submission (on https://www.bharat-electronictender.com):**
– Technical Bid (First Envelope): All qualification documents, formats 7.1 to 7.9, attachments
– Financial Bid (Second Envelope): Format 7.10 (Covering Letter) + Format 7.11 (Preliminary Cost Estimate)
– Electronic Form with single tariff for all projects (INR/kWh, up to 2 decimal places)

**Offline Submission (within 2 working days of bid closing):**
– Original EMD (BG/POI/Surety Bond)
– Pass-phrases for decryption

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### CUF & Energy Supply Requirements (Clause 8)

| Parameter | Value |
|———–|——-|
| Declared CUF at bid submission | Any value (can be revised at PPA signing) |
| CUF revision window | Once within first 3 years of operation |
| Minimum CUF (after revision) | 22% |
| Permissible operating range | 80% to 120% of declared/revised CUF |
| Lower limit relaxation | Only for Force Majeure |

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## Business Points (Key Takeaways for Wind Power Developers)

| Business Point | Implication |
|—————|————-|
| **Large 1200 MW tender** | Significant opportunity for established wind developers with pan-India capabilities |
| **High entry barrier** | Net worth of ₹1.37 Cr/MW + turnover of ₹70.8 Lakhs/MW – only well-capitalized players qualify |
| **EMD of ₹13.68 Lakhs/MW** | For 600 MW max bid, EMD ≈ ₹82 Crores – substantial commitment |
| **Land & connectivity in developer scope** | High risk and capital expenditure; due diligence on land acquisition and evacuation critical |
| **PPA term 25 years** | Long-term revenue certainty but fixed tariff for 25 years |
| **CUF floor of 22%** | Projects must be in high-wind potential zones; resource assessment essential |
| **Delay penalties severe** | PBG encashment and capacity reduction for delays beyond 6 months |
| **Transmission delay protection** | SCSD extension available if CTU/transmission licensee is at fault – but WPD must prove compliance |
| **e-RA with L1+2% range** | Tariff competition intense; bidders within 2% of L1 can still win |
| **Consortium allowed but complex** | Lead member ≥51%; all members must have non-zero equity; joint liability |
| **Foreign participation possible** | Must form Indian SPV with ≥51% shareholding; comply with FDI and land border restrictions |
| **MSE benefit conditional** | Exemption available but only if financial criteria met on own – difficult for small players |
| **PSM optional but costly** | ₹0.02/kWh discount for payment security – impacts profitability |
| **No PTCC clearance post July 2026** | Per earlier MoM, PTCC requirement removed – may reduce approval delays |

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