PEDA Issues Tender for 2 MW Solar Project in Himachal Pradesh

PEDA on behalf of BBMB has issued an RfP for setting up solar PV projects of 2 MW capacity at the Neilla Bhakra Dam Village in Bilaspur, Himachal Pradesh.

The Punjab Energy Development Agency (PEDA) on behalf of Bhakra Beas Management Board (BBMB) has issued a Request for Proposal (RfP), inviting bids from eligible bidders for setting up grid-connected solar PV power projects of 2 MW capacity at the Neilla Bhakra Dam Village in Bilaspur, Himachal Pradesh.

As per the tender, BBMB has approximately 8.50 acres of land in the village and wished to utilise it for developing solar power projects. The power generated by the project will be directly purchased by BBMB as per the power purchase agreement (PPA) that will be agreed at the tariff rate that will be fixed after the competitive bidding process.

The bidder/ SPD has to set-up the solar PV project on the land of BBMB. They will have to sign a rent agreement with the BBMB for 27 years i.e. 25 years duration of the agreement (period as per PPA), 18-month installation, and 6 months for the vacation of the land. BBMB will provide land to the SPD at a rent cost Rs 100 per acre per year.

BBMB shall enter into PPA with successful SPD for a period of 25 years from the date as per the provisions of PPA. The maximum tariff payable to the Project Developer is fixed for 25 years. The bidders will be free to avail fiscal incentives like Accelerated Depreciation, Concessional Customs and Excise Duties, Tax Holidays, etc. as available for such projects.

The last date for bid submission is June 30, 2020, and the techno-commercial bids will be opened on July 2, 2020. All the prospective bidders will have to submit an Earnest Money Deposit of Rs 5 lakh per MW along with their bids.

To be eligible for participating in the bidding process, the bidders should have installed and commissioned at least a single project having a capacity of 1 MW or higher grid-connected capacity which is in operation for at least 1 year before the last date of submission of e-bid anywhere in the world. Financially, the bidder should have a net worth equal to or greater than Rs 0.70 crore per MW of the quoted capacity, as on the last date of the previous financial year.