Solar Energy Corporation seeks power purchase agreement for renewable energy projects
Ministry of New and Renewable Energy's firm Solar Energy Corporation of India (SECI) has announced its intent to buy 500MW worth of ‘firm and dispatchable’ clean power from grid-connected renewable energy projects for 25-year power purchase agreements (PPA).
SECI released a request for selection (RfS) last week seeking 500MW worth of projects connected to the interstate transmission system (ISTS), the generated energy from which will be bought by the Punjab State Power Corporation Limited (PSPCL).
Projects are being offered on a build-own-operate basis, whereby the government gives concession to a private developer to finance, design, own, and take responsibility for a project under a government contract.
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