Prozeal Infra Secures 14 MW of Solar EPC Tender from Gujarat State Electricity Corp.

Gujarat State Electricity Corporation Ltd (GSECL) has awarded an 14 MW of solar EPC contract to Ahmedabad- based solar EPC company Prozeal Infra. The projected bid value for this EPC LOA was 82.23 Cr. 

Design, engineering, supply, procurement, construction, testing, and commissioning will be handled by Prozeal Infra, along with five years of operation and maintenance services. From the time the contract is awarded, there are 12 months to complete the project. 

Prozeal Infra received an earlier award in June 2022 from GSECL for an 843 Cr Solar EPC project at 7 locations around Gujarat. Prozeal Infra is a renewable energy company that operates in solar EPC and builds EV charging infrastructure around the nation.

GSECL floated this 14 MW solar tender on May 15th, 2022 & the last date to submit the bid was June 06th, 2022. According to the tender document, the total estimated cost of this 14 MW of GSECL was 56 crores & the earnest money deposit for all the interested bidders was 56 lakhs. 

To procure this tender, the bidder should have designed, supplied, erected, supervised, and commissioned solar-based grid-connected power plant(s) of cumulative installed capacity (in MWp) of 20% or higher of total bid capacity, out of which at least one plant should have been of 5% or higher (in MWp) of total bid capacity. 

To procure this GSECL 14 MW solar project tender, the minimum annual turnover for the last three financial years, the requirement for prospective bidders to participate in the bidding process is at least shall be calculated as follows:

4.0 Cr. X 14 MW (Capacity in MW bidder is bidding) X 0.7 = 39.2 Cr. 

The net worth of the bidder should also be positive for the last Financial Year. Net Worth of the bidder shall be calculated as follows: 

Net Worth = (Equity + Reserves) – (Revaluation reserves+ intangible assets + miscellaneous expenses to the extent not written off + carried forward losses). 

After completing all the conditions, Prozeal Infra has secured this 14 MW of solar project tender.

Earlier, the Gujarat State Electricity Corporation Limited (GSECL) awarded Prozeal Infra Engineering an EPC contract to install 131 MW of solar projects in the Surendranagar and Morbi districts of Gujarat.