SECI Invites Bids for 500 MW Offshore Wind Project in Gujarat

The Solar Energy Corporation of India (SECI) has invited proposals for the development of a 500 MW offshore wind energy project in the Gulf of Khambhat, Gujarat. The project, spread over 202 sq km, will be awarded on a build-own-operate basis.

The selected developer will enter into a 25-year power purchase agreement (PPA) with SECI, which will supply power to Gujarat Urja Vikas Nigam. The project will also be eligible for viability gap funding (VGF), with a maximum support of ?8,128 crore per MW. The VGF will be disbursed in four phases, based on project milestones.

The Ministry of New and Renewable Energy (MNRE) will lease the seabed for 35 years, with developers paying Rs 1 lakh per square kilometre annually. The project site will be allotted through an e-bidding and e-reverse auction process.

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