SECI issue Tender for Selection of RE Power Developers under CfD Mechanism for assured peak supply of (500 MW x 3 hrs.) – EQ

Summary:

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### 1. Tender Overview

| **Item** | **Details** |
| :— | :— |
| **Issuing Authority** | Solar Energy Corporation of India (SECI) – A Government of India Navratna Enterprise |
| **Tender Name** | Selection of RE Power Developers under Contract for Difference (CfD) Mechanism for assured Peak Supply of **1500 MWh (500 MW x 3 Hrs.)** from ISTS-Connected RE Projects |
| **RfS No. & Date** | SECI/C&P/IPP/13/0002/26-27 dated **April 19, 2026** |
| **Bidding Platform** | ISN-ETS Portal: https://www.bharat-electronictender.com |
| **Bidding System** | Single Stage, Two Envelope (Techno-Commercial + Financial) followed by e-Reverse Auction |
| **Total Capacity on Offer** | **500 MW** (Contracted Capacity) |
| **CfDA Term** | **12 years** from Scheduled Commissioning Date (SCD) |

### 2. Key Business Concept: Contract for Difference (CfD)

This is a **novel financial settlement mechanism**. The RE Power Developer (RPD) sells power directly on Power Exchanges (DAM, GDAM, RTM) at market prices. SECI then settles the difference between the Market Clearing Price (MCP) and the discovered **Strike Price**:

– **If MCP > Strike Price:** RPD pays the excess to SECI (credited to CfD Pool)
– **If MCP < Strike Price:** SECI pays the shortfall to RPD from CfD Pool
– **Profit/Loss Sharing:** 30% to RPD / 70% to CfD Pool (daily settlement, monthly reconciliation)
– **CfD Pool Corpus:** INR 76 Crore (stabilization fund)

> **Business Implication:** RPDs are exposed to market price risk but have a guaranteed floor (Strike Price) and ceiling (through profit sharing). Revenue optimization depends on scheduling during peak hours.

### 3. Scope of Work & Obligations

| **Item** | **Requirement** |
| :— | :— |
| **Project Type** | ISTS-connected Renewable Energy (Solar, Wind, or other RE) with or without Energy Storage System (ESS) |
| **Ownership Model** | Build-Own-Operate (BOO) basis |
| **Peak Supply Obligation** | Daily supply of **3000 kWh per MW Contracted Capacity** during Peak Hours (3 hours chosen by RPD between 18:00-24:00, within non-solar hours) |
| **Annual Energy Source** | 100% RE power. Up to 25% can be sourced from green market/bilateral agreements |
| **Injection Point** | ISTS substation at 220 kV or above |
| **Location** | Anywhere in India (RPD’s choice, cost, and risk) |
| **REC Revenue** | RECs from DAM/RTM sale must be sold, and proceeds deposited into CfD Pool |

### 4. Financial & Bid Parameters

| **Item** | **Details** |
| :— | :— |
| **Strike Price Ceiling** | **INR 6.10/kWh** (Bids above this are rejected) |
| **Tariff Quotation** | Up to two decimal places (e.g., 3.33) |
| **Minimum Bid Capacity** | 50 MW per bidder |
| **Maximum Bid Capacity per Bidder** | 125 MW (including Parent, Affiliate, Group Companies) |
| **Document Fee** | INR 50,000 + GST (non-refundable) |
| **Bid Processing Fee** | INR 20,000/MW + GST (max INR 20 Lakhs + GST) |
| **EMD** | Calculated per formula: Solar: ₹9.68 Lakhs/MW, Wind/other RE: ₹13.68 Lakhs/MW, ESS: ₹2.40 Lakhs/MWh |
| **Performance Bank Guarantee (PBG)** | Solar: ₹24.20 Lakhs/MW, Wind/other RE: ₹34.20 Lakhs/MW, ESS: ₹6.00 Lakhs/MWh |
| **Success Charges** | INR 1,00,000/MW + taxes (payable within 20 days of LoA) |
| **EMD Acceptable Forms** | Bank Guarantee, Payment on Order Instrument (PFC/REC), or Insurance Surety Bond |

### 5. Eligibility Criteria (Summary)

#### A. General Eligibility
– **Entity Type:** Company registered under Companies Act, 2013 (No LLPs, partnerships, trusts, proprietorships)
– **Consortiums Allowed:** Yes, with Lead Member holding ≥51% equity. All members must have non-zero equity.
– **Foreign Companies:** Can participate but must form an Indian SPV with ≥51% shareholding before CfDA signing.

#### B. Technical Eligibility
Bidder (or Lead Member) must have commissioned (as owner or EPC contractor) in last 7 years:
– One project of capacity **≥20 MW** (if bidding 50 MW), OR
– Two projects of **≥25 MW each**, OR
– Three projects of **≥10 MW each**

> *Formula: For ‘X’ MW bid, requirement is 4X/5 MW per project*

#### C. Financial Eligibility (per MW quoted)

| **Parameter** | **Requirement** |
| :— | :— |
| **Net Worth** | Solar: ₹96.80 Lakhs/MW, Wind: ₹136.80 Lakhs/MW, ESS: ₹24.00 Lakhs/MWh |
| **Liquidity (any one)** | Annual Turnover: ₹66.84 Lakhs/MW **OR** PBDIT: ₹13.37 Lakhs/MW **OR** Line of Credit: ₹16.71 Lakhs/MW |

> *Affiliate support allowed with Board Resolution undertaking equity/PBG support*

#### D. Mandatory Compliance
– **ALMM:** Solar PV modules and cells must be from ALMM List I & II (valid at invoice date)
– **Land Border Restrictions:** Bidders from land-border countries must be registered with Competent Authority as per MoF OM dated 23.02.2023
– **No willful default or blacklisting**

### 6. Key Timelines & Milestones

| **Milestone** | **Deadline** |
| :— | :— |
| **Pre-Bid Meeting** | As per NIT (check ISN-ETS portal) |
| **Bid Submission Deadline** | As per NIT (to be confirmed on portal) |
| **EMD Offline Submission** | Within 2 working days after bid deadline |
| **Bid Validity** | 12 months from bid submission deadline |
| **Effective Date of CfDA** | 30th day from LoA issuance |
| **Financial Closure** | 6 months from LoA date |
| **Scheduled Commissioning Date (SCD)** | 12 months from Effective Date |
| **Maximum Commissioning with Penalty** | Up to 3 months after SCD |
| **PBG Validity** | 6 months after SCD (with 30-day claim period) |

### 7. Selection Process & Award Methodology

1. **Techno-Commercial Evaluation** – Eligibility check
2. **Financial Bid Opening** – First Round Tariff (≤ ₹6.10/kWh)
3. **e-Reverse Auction** – Descending clock auction
– 30 minutes initial duration
– Auto-extension of 8 minutes if a bidder changes zone (Green/Orange/Red) in last 8 minutes
– Minimum decrement: ₹0.01/kWh
4. **Award Range:** Bidders within **(L1 tariff + 2% of L1)** are declared successful
5. **Capacity Allocation:** Limited to SE (eligible capacity) = 80% of total bid capacity (subject to max 500 MW)

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