Solar Energy Corporation of India (SECI) has opened financial bids for the allocation under Batch-I of Phase-II of the National Solar Mission (NSM).

SECI has received 68 bids from 58 developers, covering 122 projects with a cumulative capacity of 2,170 MW.

Of the total, 36 projects with a capacity of 700 MW, chose to bid under the Domestic Content Requirement (DCR) part of the bidding process, and the remaining 86 projects, with a capacity of 1,470 MW, preferred the open bids. Each part will eventually be allocated an equal 375 MW.

With the DCR part of the bid being oversubscribed twice over and the non-DCR (open) part, four times over, it is likely that the entire capacity of 750 MW will be converted into Letters of Interests (LoIs) by 10 March, 2014.

SEI and Azure Power bagged 100 MW of projects each, while ACME got nearly 80 MW of new capacity. Other companies that bagged projects include Tata Power Renewable Energy which secured 35 MW capacity; IL&FS Energy Development which bagged 40 MW; Solairedirect Energy India which secured 30 MW; Gujarat Power Corporation 10 MW; Hero Solar Energy 20 MW; and Today Homes and Infrastructure 40 MW.