Adani Green Energy and Azure Power have emerged as successful bidders in Solar Energy Corporation of India’s (SECI’s) first manufacturing-linked solar tender.
Adani has bid for 1.5 GW solar cell manufacturing capacity and 6 GW generation capacity while Azure Power has bid for 500 MW solar cell manufacturing capacity and 2 GW generation capacity.
With the greenshoe option, the capacity for Adani would increase to 2 GW of solar cell manufacturing capacity and 8 GW generation capacity. Whereas for Azure, with greenshoe option, it will be 1,000 MW solar cell manufacturing and 4 GW generation capacity.
After the successful auction, an investment of around Rs 6,000 crore is expected for setting up 1 GW of solar manufacturing facilities, which would generate permanent direct employment of up to 10,000 people.
The solar power project can be developed anywhere in India and is expected to be commissioned in staggered annual phases of 500 MW each with the first commissioning expected by 2022 and full commissioning by 2025.
The bids have been finalized and only paperwork remains. The tariff has been fixed at Rs 2.92.
This is an Agency News-Feed