In one of the largest tranches of Indian clean energy contracts on offer, developers are eyeing projects of at least 9 gigawatts (GW) that will be bid out over the next three weeks, said two people aware of the development.

These contracts that require an investment of over $4 billion are being offered after a long lull, and are for setting up solar, hybrid and wind energy projects. They are being tendered by state-run Solar Energy Corporation of India (SECI), Maharashtra State Electricity Distribution Company Ltd (MSEDCL) and Rewa Ultra Mega Solar Ltd. (RUMSL), a joint venture between SECI and Madhya Pradesh UrjaVikas Nigam Ltd.

“While 6.68GW is being tendered by SECI, 1.5GW is being tendered by RUMSL at its solar parks at Agar, Shajapur and Neemuch. MSEDCL is offering a 1 GW capacity,” said one of the two people cited above requesting anonymity.

“Among the first off the block is RUMSL and MSEDCL’s solar contracts for 550MW (megawatts) and 500MW respectively that is scheduled for 14 June (Monday). There is also a 2,500MW contract from SECI for round the clock (RTC) power combining thermal and renewable energy sources,” said the second person cited above who also did not want to be named.

While India’s wind power tariffs recorded an all-time low of Rs 2.44 per unit in December 2017, India’s solar tariffs hit an all-time low of Rs 1.99 per unit in December last year. Since then, India has decided to impose a 40 per cent basic customs duty on solar modules and 25 per cent on solar cells from 1 April 2022, a move that would make imports costlier and encourage local manufacturing.