Bids were submitted last month for a 500 MW tender under the Viability Gap Funding (VGF) scheme to Solar Energy Corporation of India (SECI). In this tender, 50 MW was reserved for Domestic Content Requirement (DCR) category and remaining 450 MW was for open category. However, the bidder interest in this tender was highly subdued as compared to other recent tenders (refer). The most surprising outcome was that only one participant bid for the 50 MW under DCR category. This tender for DCR category will now be re-opened for bidding.
- Only one company, Adani, submitted bid for participation in 50 MW DCR category
- Downward revision of tariff to INR 4.43/kWh is the likely reason for such lower interest
- We expect low interest for DCR projects in the upcoming tenders in Gujarat, Uttar Pradesh and Andhra Pradesh