Maharashtra E-tender for a 105 MW Floating Solar Project

Maharashtra State Power Generating Company Limited (MSPGCL) has floated an e-tender for a 105 MW floating solar plant. This solar project will be a grid-connected floating solar plant. The successful bidder will develop the floating project at Erai Dam Solar Park in the Chandrapur district of Maharashtra.

The last date for submission of bids is 15th July 2022 up to 03:00 PM and these bids will be opened on the same day.

This 105 MW floating project’s earnest money deposit (EMD) is Rs 10.54 Lakhs/MW as a bank guarantee (according to Format 7.3A). The bidder must submit this earnest money deposit with their bid, and it is valid for six months from the last date of bid submission for this e-tender.

Awarded bidder will have to submit Rs 21.07 Lakhs/ MW (i.e. Rs. 2212.35 Lakhs + 18 % GST for 105 MW floating solar plant) as the performance security amount within 30 days of issuance of Letter of Award (LoA) or before signing of PPA, whichever is earlier.

The successful bidder will have to submit the required documents to MSPGCL within 21 days from the issue of LoA. In case of delay in submission of documents beyond the 21 days as mentioned above, MSPGCL shall not be liable for delay in verification of documents and subsequent delay in signing of PPA. Irrespective of the date of signing of the PPA, the Effective Date of the PPA shall be the date on the 30th day from the date of issuance of the LOA.

The Successful Bidder will declare the CUF (capacity utilization factor) of their project at the time of PPA and will be allowed to revise the same once within the first year of COD. The declared CUF shall in no case be less than 19% over a year.

The power procured by Maharashtra State Power Generation Company from the project will be sold to the Maharashtra State Electricity Distribution Company.

Any excess generation over and above 10% of declared annual CUF will be purchased by MSPGCL at a fixed tariff of 75% of the PPA tariff, provided MSPGCL can get any buyer for the sale of such excess generation.

If the Successful Bidder is unable to generate minimum energy, which is equivalent to the annual CUF value, will be obligated to pay compensation to MSPGCL at a rate of 25% of the PPA tariff.

Bidders must have constructed floating solar projects with a minimum aggregate capacity of 30 MW or a floating solar project with a minimum capacity of 2.5 MW, with 1 MW commissioned. They should have expertise in implementing ground-mounted solar installations with at least 100 MW of aggregate capacity.

Alternatively, the bidder should have experience establishing ground-mounted solar installations with a total capacity of at least 200 MW. The experience needed to develop ground-mounted solar installations should be accumulated across three completed contracts at the most.

At least one of these ground-mounted projects should be capable of producing 50 MW. The Net Worth of the Bidder should positive, as on the last date of the previous Financial Year, i.e. FY 2021-22 (if available) or FY 2020-21.

Bidders must provide a solvency certificate for 105 MW e-tender worth at least Rs 48 crores ($6.16 million), appropriately certified by a nationalized or scheduled bank.