Torrent Power Issues RfS for Purchase of Power of 300 MW from Solar Projects in Gujarat

Torrent will sign power purchase agreement (PPA) with the successful bidders for a period of 25 years from the scheduled commercial operation date of the project.

Torrent Power has issued a Request for Selection (RfS) for procurement of power through competitive bidding process followed by e-reverse auction up to 300 MW from grid-connected solar photovoltaic power projects in Gujarat.

The last date for submission of bids is February 12, 2019. The technical bids will open on February 13, 2019, and financial bids will open on February 20, 2019.

To be eligible to bid, each bidder should have executed at least 50 MW of solar power projects, and should also have an annual turnover of Rs 20 million per MW for the financial year ended on March 31, 2018. A bidder can bid for a minimum capacity of 50 MW and a maximum capacity of 150 MW.

Torrent will sign power purchase agreement (PPA) with the successful bidders for a period of 25 years from the scheduled commercial operation date of the project.

The bidders will be free to avail fiscal incentives like accelerated depreciation, concessional customs and excise duties, tax holidays, benefits from trading of carbon credits, etc. as available for such projects.

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