Renewable companies line up for solar rooftop projects
In one of the largest tenders for the rooftop solar power projects, sector majors lined up to bid in a wide range of tariff – from Rs 3 per unit to Rs 6.9 per unit. The capital expenditure quoted by the companies is in nominal range of Rs 59,000 per kWp to Rs 79,000 per kWp.
Against the tender of 500 MW, the bidding agency Solar Energy Corporation of India (SECI) received bids totalling 602 MW. SECI would provide 30 per cent capital subsidy to the lowest cost bidder. The tender is for rooftop solar projects for residential and institutional segments.
SECI will disburse 20% subsidy at the time of commissioning with balance 10% provided one year after commissioning. The subsidy also only available to projects using modules that are made in India, leading
Of the 91 companies that participated, some of the noted names that bid for rooftop projects Renew Power, Hero Future Energies, Jakson, Bosch, Fourth Partner, Ujaas Energy, Sterling & Wilson etc.
“While there are many large bidders on the list, many prominent rooftop solar names such as Tata Power Solar, Su-Kam, Chemtrols, Vikram Solar and Thermax did not participate in the tender. The most likely reason for this is that the tender conditions are somewhat onerous, in particular the requirement to complete projects within 1 year of subsidy grant, especially as subsidy is available in parallel through state nodal agencies without tendering,” said Bridge to India in its last report on solar rooftop bidding.
The sector tracking agency however mentioned that the Indian rooftop market is currently growing at over 100% annually aided by fundamental shift in the sector and this tender will provide a major boost to the residential and institutional market segments.