Haryana Power Purchase Center (HPPC) has issued tenders for the supply of 500 MW of solar energy from grid-connected solar projects in the state. While the deadline for submitting the bids online is May 24, bids would be opened on May 25.

The bidders must deposit INR 10,000 per MW along with 18 percent GST as a bid processing fee. Additionally, they need to furnish INR 800,000 per MW as an earnest money deposit.

Before the signing of the power purchase agreement (PPA) and after the issuance of the Letter of Intent (LoI), the winning bidder would have to furnish INR 2 million per MW as a bank guarantee. A ceiling tariff of INR 3.38 per kWh for the tender has been fixed by HPPC.

A joint forum of the Uttar Haryana Bijli Vitran Nigam (UHBVN) and Dakshin Haryana Bijli Vitran Nigam (DHBVN), Haryana Power Purchase Center (HPPC) will sign PPAs with successful bidders for 25 years from the commercial operation date of the solar projects and it needs to be commissioned by the developer within 18 months from the date of signing the PPA.

The developer will have the responsibility of designing, financing, procuring land, engineering, constructing, operating, and maintaining the projects, as per the terms of the PPA.

As per the mentioned eligibility criteria for the bidders, the net worth for the last financial year should be at least INR 10 million per MW and the minimum annual turnover should be INR 5 million per MW of the quoted capacity.

Bidders with internal resource generation capability in the form of profit before depreciation, interest, and taxes for at least INR 1 million per MW of the quoted capacity during the previous financial year are eligible to participate.

Alternatively, they need to have an in-principle approval letter from lending institutions committing a Line of Credit for a minimum amount of INR 1.25 million per MW of the quoted capacity toward meeting the working capital requirement of the project.