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Adani inviting bids for procurement of 700 MW solar power

Adani Electricity Mumbai Limited (AEML) has floated a RfS document inviting long term bids for the procurement of 350 MW of grid-connected solar projects through a competitive bidding process. The tender has been floated to fulfill the Renewable Purchase Obligation (RPO) of Adani Electricity Mumbai Ltd. (AEML).

The company also aims to procure additional 350 MW of power under Greenshoe option under the Domestic Content Requirement (DCR) category.

AEML shall enter into PPA with the Bidders selected based on this RfS for purchase of solar power for a period of 25 years from the commercial operation date of the project.

As per the document 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. The same will not have any bearing on comparison of bids for selection. As equal opportunity is being provided to all Bidders at the time of tendering itself, it is up to the Bidders to avail various tax and other benefits notes AEML in the RfS document.

Bidder including its Parent, Affiliate or Ultimate Parent or any Group Company can submit multiple bids for a maximum cumulative bid capacity of 700 MW including capacity offered under Greenshoe option. However, selection of 350 MW capacity under Greenshoe shall be at AEML’s discretion.

It will be mandatory for all the projects to meet the domestic content requirement. The RfS says-

“The Projects to be selected under this Technology shall provide for deployment of Solar PV Technology in compliance with the Domestic Content Requirement as specified in RfS document. However, the selection of Projects would be technology agnostic within the technology mentioned hereinafter. Crystalline silicon or thin film etc., with or without trackers can be installed. Only commercially established and operational technologies can be used, to minimize the technology risk and to achieve the timely commissioning of the Projects. The detailed technical parameters shall be as specified by MNRE from time to time.”

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