Maharashtra State Electricity Distribution Company (MSEDCL) has announced a tender inviting bids to procure 500 MW of power from intrastate grid-connected solar projects. The tender also includes a greenshoe option for an additional 500 MW.
The last date for submitting online bids is March 17, 2023, and the bids will be opened on the same day. The bid processing fee is ₹300,000, and bidders are required to submit ₹400,000/MW as an earnest money deposit.
The successful bidder will need to furnish ₹1.1 million/MW as a performance bank guarantee. MSEDCL will enter into a power purchase agreement (PPA) with the selected bidders for the purchase of power for 25 years from the scheduled commercial operation date in the case of new solar projects, or for 25 years from the date of execution of the PPA for existing solar projects.
The minimum project capacity should be 25 MW at a single location with a minimum bid capacity of 50 MW for projects. MSEDCL has clarified that projects under construction, not yet commissioned, or already commissioned but without any long-term PPA will be considered if they are not already accepted under any central or state programs.
Only commercially established and operational technologies can be used to minimize the technology risk and achieve the projects’ timely commissioning.
Bidders should have a net worth of at least ₹10 million /MW of the quoted capacity during the last financial year, a minimum annual turnover of at least ₹3.52 million/MW of the quoted capacity during the last financial year.
Additionally, bidders should have an in-principle approval letter from lending institutions committing a line of credit for a minimum of ₹879,000/MW of the quoted capacity toward meeting the working capital requirement.
The successful bidder will be responsible for obtaining the grid connectivity, and the transmission of power up to the point of interconnection and energy accounting infrastructure will also be their responsibility.
Bidders should ensure that the modules to be used for the project are from the Approved List of Models and Manufacturers issued by the Ministry of New and Renewable Energy. Solar modules to be used for the project must be warranted for peak output wattage, which should not be less than 90% at the end of ten years and 80% at the end of 25 years from the commercial operation date of the project, according to the tender documents.