IREDA extends bid submission date for CPSU solar projects
POWER & RENEWABLE ENERGY

IREDA extends bid submission date for CPSU solar projects

Indian Renewable Energy Development Agency Ltd (IREDA) has extended the bid submission date for the execution of the Central Public Sector Undertaking (CPSU) scheme phase-II to June 15 for setting up 12,000 MW grid-connected solar projects with Viability Gap Funding (VGF).

The last date to submit the bids was May 30 earlier. A VGF is given to cover the cost difference between domestic and imported solar cells and modules. VGF is going to be released in two phases.

The CPSUs must submit their responses by 15 June 2021, and the successful bidders will be selected by July 20. MNRE had appointed IREDA as the executing agency for the scheme earlier.

Under the scheme, the power produced by the government producers can be used on payment of mutually agreed usage charges of not more than Rs 2.45 per unit for use by the government or government entities or self-use, either through discoms or directly.

The maximum VGF that is permissible is Rs 55 lakh per megawatt. The bidding process will decide the actual VGF to the government producer using the VGF amount as a bid parameter to select the project developer.

The MNRE will review the maximum permissible BGF amount from time to time and reduce it if the cost comes down.

IREDA invited proposals on 29 January 2021, to set up Grid (including Mini & Micro Grid) Connected Solar PV projects anywhere in the country, as a part of the Central Government's aim to achieve a cumulative capacity of 100 GW Solar PV installation by the year 2022.

This should be done on a Build Own Operate (B-O-O) basis for an aggregate capacity of 5,000 MW under Phase-II (Tranche-III).

Image Source


Also read: Indian Railways invites bids for 15 MW solar project with battery storage

Also read: Bharat Petroleum floats tender for 15 MW solar, non-solar RE projects

Indian Renewable Energy Development Agency Ltd (IREDA) has extended the bid submission date for the execution of the Central Public Sector Undertaking (CPSU) scheme phase-II to June 15 for setting up 12,000 MW grid-connected solar projects with Viability Gap Funding (VGF). The last date to submit the bids was May 30 earlier. A VGF is given to cover the cost difference between domestic and imported solar cells and modules. VGF is going to be released in two phases. The CPSUs must submit their responses by 15 June 2021, and the successful bidders will be selected by July 20. MNRE had appointed IREDA as the executing agency for the scheme earlier. Under the scheme, the power produced by the government producers can be used on payment of mutually agreed usage charges of not more than Rs 2.45 per unit for use by the government or government entities or self-use, either through discoms or directly. The maximum VGF that is permissible is Rs 55 lakh per megawatt. The bidding process will decide the actual VGF to the government producer using the VGF amount as a bid parameter to select the project developer. The MNRE will review the maximum permissible BGF amount from time to time and reduce it if the cost comes down. IREDA invited proposals on 29 January 2021, to set up Grid (including Mini & Micro Grid) Connected Solar PV projects anywhere in the country, as a part of the Central Government's aim to achieve a cumulative capacity of 100 GW Solar PV installation by the year 2022. This should be done on a Build Own Operate (B-O-O) basis for an aggregate capacity of 5,000 MW under Phase-II (Tranche-III). Image Source Also read: Indian Railways invites bids for 15 MW solar project with battery storage Also read: Bharat Petroleum floats tender for 15 MW solar, non-solar RE projects

Next Story
Resources

Madhya Pradesh Champions Inclusive Tourism at Heritage Sites

On the occasion of World Heritage Day, Madhya Pradesh is taking a significant step toward inclusive tourism by making its historical sites accessible to all — especially persons with disabilities. The state is rolling out its ‘Accessibility Infrastructure and Development’ project at Maheshwar, Mandu, Dhar, and Orchha, aiming to create a more welcoming experience at these iconic cultural destinations.The initiative, under the leadership of Chief Minister Dr Mohan Yadav and Tourism Minister Shri Dharmendra Bhav Singh Lodhi, includes infrastructure upgrades such as ramps, Braille signage, w..

Next Story
Resources

Runwal Realty Onboards Sonam Kapoor as Brand Ambassador

Real estate major Runwal has unveiled a refreshed identity as Runwal Realty, signalling a renewed commitment to crafting spaces that stand the test of time. With this refresh, the brand unveils its new philosophy: “Building for Generations to Come” and welcomes Bollywood star and global fashion icon Sonam Kapoor as its brand ambassador. This evolved identity reflects Runwal Realty’s commitment to creating not just homes, but heirlooms—crafted through visionary design, meticulous planning, global design expertise and an unwavering focus on quality. With the customer at its core, each de..

Next Story
Infrastructure Urban

Emerging Trends in Infrastructure and Transport 2025: KPMG

KPMG’s latest report, The Great Reset: Emerging Trends in Infrastructure and Transport 2025 edition, sheds light on the profound changes transforming the global infrastructure landscape. As industries adapt to the challenges posed by climate change, economic pressures, and technological advancements, the report identifies key trends and provides actionable insights for leaders in infrastructure and transport sectors. “In today’s interconnected world, the lack of standardized supply chain practices is not just an operational challenge—it’s an environmental and economic one. We’..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?