2 weeks Ago
New Delhi: State-run Solar Energy Corporation of India (SECI) has invited bids for setting up 500 wind power projects off the Gujarat coast using viability gap funding (VGF). The Union Cabinet had in June approved a VGF scheme for 1,000 MW offshore wind projects in Gujarat and Tamil Nadu . Proposed guidelines for the tender, which were issued last week, state that the successful bidder or bidders will get to sign a power purchase agreement at a fixed tariff of ₹4.
5 per unit for Gujarat. Bidders will be required to submit technical and financial bids, with the lowest quoted VGF getting the highest capacity. There will be a greenshoe option as well for allocation of additional capacity of up to 50 MW with the total maximum capacity set at 550 MW.
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The VGF support will reduce the cost of power from offshore wind projects, which are costlier than onshore wind, it had said. For comparison, capital cost for an offshore wind energy project is four times that of onshore on a per GW basis due to enhanced requirements such as high-maintenance outer layer of steel, underwater transmission network and additional port infrastructure for assembly. However, it enjoys benefits such as high plant load factor of 40-45% compared with 25-30% for onshore, and utilisation of sea area instead of usable land mass, the report said.
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