SECI has announced its invitation for bids to develop 400 MW of ISTS-connected wind-solar hybrid power projects under Tranche IX. It was stated that the projects must be operational within 24 months from the signing of the PPA.

The deadline for bid submissions was set for July 29, 2024, with bid opening scheduled for August 1. The bidding documents were priced at ?50,000 (~$599) each, and a bid processing fee of Rs 20,000 per MW was required.

Prospective bidders were obligated to provide an earnest money deposit calculated at Rs 942,000 multiplied by the rated cumulative installed capacity of the solar component in MW, plus Rs 1.29 million multiplied by the rated cumulative installed capacity of the wind component in MW.

Successful bidders would need to furnish a performance bank guarantee amounting to Rs 2.35 million per MW for the solar component and Rs 24 million per MW for the wind component.

Additional requirements included a success charge of Rs 100,000 per MW and a payment security deposit of Rs 0.02 per kWh. Financial prerequisites mandated that bidders demonstrate a net worth of Rs 9.42 million per MW for the solar component and Rs 12.98 million per MW for the wind component, as of the previous financial year's end.

Furthermore, bidders were required to have achieved a minimum annual turnover of Rs 9.02 million per MW of quoted capacity during the last financial year. They also needed to exhibit an internal resource generation capability equivalent to at least Rs 1.8 million per MW of quoted capacity as of the previous financial year's conclusion. Lastly, bidders must secure an approval letter from lending institutions committing a line of credit of at least Rs 2.25 million per MW of quoted capacity to meet the project's working capital requirements.