SECI lowers the solar tariff to INR 4.43 per unit fixed for upcoming biddings

Solar Energy Corporation of India New Delhi, Amendment in the RfS Document of JNNSM Phase-II, Batch-III, Tranche-I (RfS No.: SECI/JNNSM/P-2/B-3/RfS/MH/082015 dated 27th August, 2015)

Sl. No.

Clause/ Article No./ Section No.

Page No.

Original Clause

Amended Clause

1.

1.3.2

(Partially amended as mentioned in last column)

(Page 8 of 92) of RfS

SECI shall enter into PPA with successful SPDs for a period of 25 years from
the date as per the provisions of PPA. The tariff payable to the Project developer is fixed at Rs.5.43/ kWh for the initial year and then escalated annually by Rs. 0.05/ kWh for next 20 years, resulting in the maximum allowable tariff of Rs 6.43 / kWh at the end of 21st year. The tariff would thereafter, remain fixed at Rs. 6.43/kWh. The levelized tariff for the term of the

Power Purchase Agreement thus becomes Rs. 5.79/kWh. The bidders will be
……

SECI shall enter into PPA with successful SPDs for a period of 25 years from the date as per the provisions of PPA. The maximum tariff payable to the Project developer is fixed at Rs.4.43/ kWh for 25 years.

The bidders will be ……

2

3.17 B

(as
amended in Amendment – 02 dated 21.11.2015)

(Partially amended as mentioned in last column)

(Page 4 of 18) of

Amendment – 02 dated 21.11.2015

……

c. In case the commissioning of the
Project is delayed by more than 3 months, the first year tariff of Rs.

5.43/kWh or the tariff discovered after reverse auction shall be reduced at the rate of 0.50 paisa/kWh (half paisa per

kWh) per day of delay for the delay in such remaining capacity which is not commissioned. The maximum ……

……

c. In case the commissioning of the Project is delayed by more than 3 months, the tariff of Rs. 4.43/kWh or the tariff discovered after reverse auction shall be reduced at the rate of 0.50 paisa/kWh (half paisa per kWh) per day of delay for the delay in such remaining capacity which is not commissioned. The maximum … …

(Page 5 of 18) of

Amendment – 02 dated 21.11.2015

Illustration of Liquidated Damages (LD) Calculations:

Mentioned below

Illustration of Liquidated Damages (LD) Calculations:

Consider a SPD has been selected for the implementation of a Project of capacity of 50 MW.
? Total Performance Bank Guarantee Amount to be furnished by the SPD: (30 X 50) =

Rs.1500 Lakhs. a) LD Conditions:

  • ?  In case of delay upto 1 Month : 20% of the PBG amount (i.e. Rs.0.20 Lakh / MW / day) shall be encashed as Liquidated Damages for the first month of delay, calculated on per day basis and proportionate to the capacity not commissioned
  • ?  In case of delay of more than 1 Month and up to 3 Months: SECI will encash remaining Performance BG (i.e. Rs.0.40 Lakh / MW / day) on per day basis and proportionate to the Capacity not commissioned
  • ?  In case of delay beyond 3 months subject to maximum of 25 months from the date of signing of PPA, the tariff of Rs. 4.43 / kWh or the tariff discovered after reverse auction shall be reduced at the rate of 0.50 paisa (half paisa) per unit(kWh) per day for such remaining capacity which is not commissioned.b) Consider that the Project commissioning (for e.g. Project capacity 50 MW with positive VGF) has been achieved in the following manner:

Sl. No.

Commissioned Capacity (MW)

Capacity remaining Un- commissioned (MW)

Date of Commissioning of the respective part

Delay from the Scheduled Commissioning date (days)

1

0

50

Scheduled Commissioning date

0

2

30 (considering at least 50% of project Capacity)

20

Scheduled Commissioning date + 41 Days

40

3

20 (remaining project Capacity)

0

Scheduled Commissioning date + 101 Days

100

i) LD Calculation: In case of above commissioning schedule, the LD calculation for encashment of PBG, shall be done as follows:
Total LD: ((50 MW X 30days X Rs.0.20 Lakh/MW/day) + (50 MW X (40-30)days X Rs.0.40 Lakh/MW/day) + (20 MW X (90-40)days X Rs.0.40 Lakh/MW/day) = 900 Lakhs

ii) For the remaining 20 MW capacity which is being commissioned after 3 months from the scheduled Commissioning date, the Tariff gets reduced as explained below:
Tariff Calculation:

  • ?  Tariff for the 30 MW capacity = Rs. 4.43 / kWh
  • ?  Tariff for the 20 MW capacity which has been commissioned beyond three months from the date of the Scheduled Commissioning date : Rs. 4.43 – Rs (0.005*(100-90))= Rs. 4.38 / kWh
  • ?  As per terms of the PPA, tariff of the Project shall be weighted average tariff of 30 MW and 20 MW. The tariff of the Project shall reduce to (((4.43 X 30) + (4.38 X 20))/50) = Rs. 4.41 / kWhBased on the above schedule, total LD payable by the SPD shall be Rs. 900 Lakhs and tariff of the Project for the first year shall stand reduced to Rs. 4.41 / kWh.

Sl. No.

Clause/ Article No./ Section No.

Page No.

Original Clause

Amended Clause

4.2 B ii) (as

amended in Amendment – 02 dated 21.11.2015)

(Page 11 of 18) of

Amendment – 02 dated 21.11.2015

The bidders including its Parent, Affiliate or Ultimate Parent or any Group Company will have to submit bid (single application) quoting a single VGF/ single discounted first year tariff for all the projects under a particular category (Part-A or Part-B). VGF/ Discounted first year tariff has to be quoted up to two places of decimal only. If it is quoted with more than two digits after decimal, it shall be truncated up to first two decimal places. (For e.g.

if the quoted tariff is ?5.337, then it shall be considered as ?5.33).

The bidders including its Parent, Affiliate or Ultimate Parent or any Group Company will have to submit bid (single application) quoting a single VGF/ single discounted tariff for all the projects under a particular category (Part-A or Part-B). VGF/ Discounted tariff has to be quoted up to two places of decimal only.

If it is quoted with more than two digits after decimal, it shall be truncated up to first two decimal places. (For e.g.

if the quoted tariff is ?4.337, then it shall be considered as ?4.33).

3.

4.2 B iii)

(Page 44 of 92) of RfS

In this stage, evaluation will be carried out for each category based on VGF requirement and discounted tariff quoted by Bidders. The VGF bid cannot be higher than the VGF mentioned at clause 1.3.4. Those bids, whose First Round VGF Bid is higher than their respective VGF mentioned at clause 1.3.4 shall be rejected. The first year discounted tariff, if opted, has to be less than Rs.5.43/kWh.

In this stage, evaluation will be carried out for each category based on VGF requirement and discounted tariff quoted by Bidders. The VGF bid cannot be higher than the VGF mentioned at clause 1.3.4. Those bids, whose First Round VGF Bid is higher than their respective VGF mentioned at clause 1.3.4 shall be rejected. The discounted tariff, if opted, has to be less than Rs.4.43/kWh.

4.

4.3.5.vi) (as amended in Amendment – 02 dated 21.11.2015)

(Page 11 of 18) of

Amendment – 02 dated 21.11.2015

During the 15 minutes prior to start of reverse auction process, the respective
first round VGF/first year discounted tariff along with the total qualified capacity of the bidder shall be displayed on its window.

During the 15 minutes prior to start of reverse auction process, the respective first round VGF/ discounted tariff along with the total qualified capacity of the bidder shall be displayed on its window.

4.

4.3.5.vi) (as amended in Amendment – 02 dated 21.11.2015)

(Partially amended as mentioned in last column)

(Page 11 of 18) of

Amendment – 02 dated 21.11.2015

……
Step 1: It will have to mention the VGF as ? 0/-. (VGF will stand as ? 0/- and first year tariff as ? 5.43/kWh).
Step 2: It will have to

mention
discounted
(Now,
Bidder wants to quote ? 5.35 as the tariff, then he has to mention the value in the discounted tariff field). ……

its

first year tariff value. if the

……
Step 1: It will have to mention the VGF as ? 0/-. (VGF will stand as ? 0/- and tariff will stand as ? 4.43/kWh).

Step 2: It will have to mention its discounted tariff value. (Now, if the Bidder wants to quote ? 4.35 as the tariff, then he has to mention the value in the discounted tariff field). ……

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