India – 7 bidders selected for solar mission Concentrating Solar Power projects

In what amounts to an investment commitment of over Rs 7,000 crore under the Jawaharlal Nehru National Solar Mission (JNNSM), NTPC Vidyut Vyapar Nigam Ltd (NVVN) has selected a total of seven bidders including Reliance Power to build 479 MW solar power generation capacity based on concentrated solar power (CSP) technology in the first phase of the scheme.

NVVN is the nodal agency for the implementation of the first phase of the programme. Of this, Reliance Power, Lanco and KVK Energy will develop 100 MW capacity each. Megha Engineering, Godavari Power and Corporate Ispat will build Concentrating Solar Power plants of 50 MW each. The balance capacity will be developed by Arum Renewables.

NVVN is expected to issue Letter of Intent (LoI) to selected bidders by December end. Power purchase agreements (PPAs) should be signed by February. Developers are required to achieve financial closure for allocated projects within six months. Projects have to be commissioned within two years from the date of financial closure.