Travancore Cochin Chemicals Issues 22 MW RE Plant Tender

Travancore Cochin Chemicals Issues 22 MW RE Plant Tender

Travancore Cochin Chemicals Ltd has issued a tender inviting online bids from competent Power Plant developers for the setting up upto 22 MW of renewable Energy Power Plant to be implemented in a group captive SPV Model through the Kerala Govt.

The bids must be submitted by June 19, 2024, at the latest. The day the bids are opened is the same. A tender fee of $21,000 must be submitted by bidders. Additionally, they have to make an earnest money deposit (EMD) of Rs 500,000, as per Travancore Cochin Chemicals.

To guarantee contract performance, the winning bidder must supply a security deposit equal to 10% of the yearly energy bill amount. The winning bidder’s EMD will be deducted from the security deposit.

According to the tender document, twenty years from the date of delivery shall be the contract period. Solar, wind or solar-wind hybrid power plants can provide electricity; they can also be planned, under construction, or already operational. This includes fusing wind and solar power PPAs to produce a virtual hybrid power PPA.

By December 31, 2023, bidders will have to have owned, installed, and commissioned a minimum of 50 MW of solar or wind projects in India. This needs to involve a minimum of one project with a 20 MW capacity. As far as financial criteria are concerned, the bidders must have a minimum annual turnover of Rs 500 million.

In February this year, Kerala joined the club of states producing over 1,000 MW of renewable energy. According to MNRE data for the period up to January 31, 2024, Kerala has 276.52 MW under small hydro and 62.50 MW under wind. Large hydroelectric projects account for 1,864 MW, taking up the total capacity from renewables, including other sources, to 3,065 MW.