Indian Renewable Energy Development Agency Limited (IREDA), a PSU under the Ministry of New and Renewable Energy (MNRE), has extended the bid submission date to June 15 for implementation of the Central Public Sector Undertaking (CPSU) scheme phase-II for establishing 12,000 MW grid-connected solar projects with viability gap funding (VGF).
According to an official release by the Ministry, earlier, the last date to submit the bids was May 30. A VGF is offered to cover the cost difference between domestic and imported solar cells and modules. VGF would be released in two tranches.
The CPSUs are required to submit their responses by June 15 and the effective bidders are to be selected by July 20. Earlier, MNRE had assigned IREDA as the implementing Agency for the scheme.
Under the scheme, the power produced by the government manufacturers can be used on payment of mutually agreed usage charges of not more than Rs 2.45/unit for self-use or use by Government/ Government entities, either directly or through DISCOMS.
The highest permissible VGF is Rs 55 lakh per megawatt. The actual VGF to the government producer would be decided through a bidding process using the VGF amount as a bid parameter to select the project developer.
The maximum permitted VGF amount would be reviewed from time to time, by MNRE, and would be lessened if the cost difference comes down.
As part of central government's target to accomplish a cumulative capacity of 100 GW Solar PV installation by the year 2022, IREDA had invited proposals on 29th January this year for establishing of Grid (including Mini & Micro Grid) Connected Solar PV projects anywhere in the country. This is to be done on "Build Own Operate" (B-O-O) basis for an aggregate capacity of 5,000 MW under Phase-II (Tranche-III).
.jpg "Redefining Consulting Services That Facilitates & Drives Agri Innovation")
.jpg "Sudha HR Solution & Legal Services: Powering Labor Law Ecosystem Across Urban & Rural India")
