solar photovoltaic projects-Reliance Lanco, Moser Baer and Tatas among 150 in race  

Reliance, Tatas among 150 in race for solar photovoltaic projects

Over 150 companies have evinced interest in developing large solar photovoltaic projects of up to 20 MW. These include Reliance (Anil Ambani Group), Lanco, Moser Baer and the Tatas.

Also in the race are public sector companies GAIL (India) and Hindustan Petroleum Corporation Ltd.Official sources told Business Line that the request for selection (RFS) were received for 218 solar PV projects for over 2,500 MW capacity, much higher than the capacity offered – 350 MW. The RFS were invited by the Government as part of the second batch of Phase-1 of the National Solar Mission. The last date for submission was October 3.NTPC Vidyut Vyapar Nigam (NVVN), the trading arm of NTPC, has been designated as the nodal agency for sale and purchase of grid-connected solar power under Phase-1 of the Mission. NVVN expects to call for discount bids from the shortlisted entities by November.

What made this phase attractive was that besides the incentives being offered by the Government, the Ministry for New and Renewable Energy revised the guidelines for new grid-connected solar PV projects and increased the per unit capacity into multiples of 5 MW with the maximum of 20 MW for FY 2011-12. In the earlier round, where projects with a cumulative capacity of 150 MW were approved, the maximum capacity stood at 5 MW for each unit. Further, for the second batch of the Mission, the Government has increased the timeline to achieve financial closure by a month to seven months or 210 days for the bidders from the time of signing the power purchase agreements.

Also, the total capacity of such projects to be allocated to a company, including its parent, affiliate or ultimate parent or any Group company shall be limited to 50 MW. They can submit applications for a maximum of three projects at different locations, subject to a maximum aggregate capacity of 50 MW. The net worth of the company should be equal to or greater than the value calculated at the rate of Rs 3 crore of the project capacity up to 20 MW. For every MW additional capacity, beyond 20 MW, additional net worth of Rs 2 crore would need to be demonstrated. The Jawaharlal Nehru National Solar Mission envisages the implementation of the solar programme including utility grid solar power in three phases – first phase up to 2013 (1,100 MW), second phase up to 2017 (4,000 MW), and third phase up to 2022 (20,000 MW).

…..Richa Mishra …from the pages of HINDU BUSINESS LINE newspaper

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