JNNSM Phase-II, Batch-I: Solar Energy Corporation of India (SECI) was designated the nodal agency by MNRE for implementation of the first scheme of setting up of 750 MW of Grid Connected Solar PV Projects with VGF support from National Clean Energy Fund (NCEF). It entails purchase of power from developers at a fixed tariff of Rs.5.45/unit (Rs.4.75/unit in case benefit of Accelerated Depreciation is availed) and payment of VGF to the developers as per their bids, limited to a maximum of Rs.2.5 crore/MW. Bids for the VGF sought (reverse bidding on the VGF) were invited by SECI in October, 2013 in two Categories: 375 MW Capacity under DCR (Domestic Content Requirement) and 375 MW Capacity under Open Category. Power Purchase Agreements (PPAs) with the successful bidders/ developers have since been signed in March 2014. The Projects have a Schedule of Commissioning within 13 Months from the Date of Signing of PPA i.e. up to April 2015.
Total capacity of 555MW have been commisioned till 19th June 2015 under this scheme.