EESL Issues Tender For Solar Projects Worth 100 MW in 3 States

The last date for bid submission is July 8, 2019

Energy Efficiency Services Limited (EESL), a joint venture of PSUs of Ministry of Power (Govt. of India) has issued a tender, seeking bids from eligible bidders for developing solar power systems worth a total of 100 MW at various locations in three states.

The scope of work for the selected solar power developers will include the design, engineering, supply, construction, erection, testing and commissioning of the solar power generating systems (SPGS) ranging between 500 kW and 2 MW  will be developed at preselected sites at various sub-stations/locations in Maharashtra, Andhra Pradesh and Jharkhand. The selected developers will also be required to provide Operation and Maintenance services for the plants for a period of 25 years.

The last date for bid submission is July 8, 2019, and the techno-commercial bids will be opened on the same date. The Earnest Money Deposit for the tender is Rs 12 crore.

For more information click here.

Recently, the company announced standalone financial results for the fiscal year 2018-19. It registered a revenue of Rs 1,935 crores in FY19, a 37% increase over the previous fiscal, and pre-tax earnings growth of 178% to Rs 171 crores over the same fiscal. During this period, revenue has been driven primarily through maintenance services for street lights, and through the sale of agricultural pumps, streetlights to industrial units and urban local bodies, and solar study lamps. The EESL group turnover stood at Rs 2435 crores, including an impressive revenue of Rs 500 crore from its UK subsidiary, registering an overall revenue growth of 70%. The Profit After Tax (PAT) of the group stood at Rs 110 crores which is a 214% increase.

Net worth grew 30% from Rs 644 to Rs 840 crores in the last fiscal. The paid-up share capital of the company as on March 31, 2019, increased from Rs 462 crores in FY18 to Rs 675 crores in the current fiscal, while fixed assets (net) have grown from Rs 849 crores to Rs 1,847 crores. Earnings per share for the company have grown nearly 72% from Rs 0.85 to Rs 1.46.