Maharashtra Invites Bids To Procure 1 GW Solar Project

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Maharashtra State Electricity Distribution Company Limited has issued a tender inviting bids for procuring 1 GW of grid-connected solar power to meet its renewable purchase obligation and future power needs. The last date to submit bids is April 3.

According to tender document by Maharashtra discom, the bids will be thrown open on the same day as the last date to submit the bid. MSEDCL will sign 20-year power purchase agreements (PPA) with successful bidders to buy solar power from new or existing solar projects located anywhere in India, where tariff will be discovered through a competitive bidding process followed by a reverse e-auction.

The minimum capacity for a project at a single location is 50 MW and the maximum bidding capacity is 1,000 MW per bidder. Further, the firms that are allowed to participate in the bidding process for the solar project include both India-based firms and foreign firms. Also, projects are expected to be commissioned within 24 months of PPA execution. Bidders are also required to submit an earnest money deposit of Rs 8,00,000.

So far as the eligibility criteria are concerned, a performance bank guarantee of E2 million ($24,168)/MW is required before signing the PPA. Also, the net worth of the bidder for the previous financial year must not be less than 210 million.

Recently, NTPC Green Energy Limited (NGEL), a wholly owned subsidiary of NTPC Limited, has signed a joint venture agreement with Maharashtra State Power Generation Company Limited (MAHAGENCO), for the development of Renewable Energy Parks in the state of Maharashtra. The company to be set up under the joint venture will develop GW-scale renewable energy parks and undertake projects of this scale in a phased manner.