Maharashtra Invites EOI for Floating Solar-BESS Project on Veer Reservoir Under PPP Model

The Maharashtra Krishna Valley Development Corporation (MKVDC) has invited Expression of Interest (EOI) for the development, operation, maintenance and management of a Floating Solar Photovoltaic (FSPV) and Battery Energy Storage System (BESS) project on the Veer Reservoir in Satara district under the Public-Private Partnership (PPP) model.

The EOI seeks participation from experienced infrastructure developers, renewable energy companies, EPC contractors, investors and eligible consortiums for the proposed project. The proposed project covers the development, operation, maintenance and management of the floating solar and battery storage facility on the reservoir surface of Veer Dam in Khandala taluka, Satara district.

According to the tender document, the EOI is being conducted as a non-binding market sounding and shortlisting exercise to assess industry interest, technical capabilities and development approaches ahead of a potential Request for Qualification (RFQ) or Request for Proposal (RFP). The authority clarified that the EOI does not constitute an invitation to bid or any commitment to award a concession or contract.

The EOI document is available for download through the Government of Maharashtra's e-procurement portal from July 1 to July 22, 2026. Interested applicants are required to pay a non-refundable document fee of INR 5,900, inclusive of GST, through the online payment gateway on the portal.

The schedule provides for submission of pre-bid queries until July 7, a site visit on July 15, and a pre-bid meeting on July 16, while proposals must be submitted on July 22, 2026. The EOI will be opened on the following working day at the office of the Executive Engineer, Minor Irrigation Division, Satara.

The eligibility criteria for companies interested in developing the proposed  must be legally registered entities in India, either individually or as a consortium. They should have developed at least 5 MW of floating solar and 2 MW of BESS capacity, or equivalent PPP energy infrastructure projects over the past five years, and have operated and maintained a 5 MW renewable energy project for at least two years.

Eligible bidders must also have an average annual turnover of INR 25 crore during the last five financial years and maintain a positive net worth as of March 31, 2025. In consortium bids, the lead member must independently meet at least 50 percent of the technical and financial requirements, while the consortium collectively must satisfy all eligibility conditions.

Applicants must not be blacklisted by any government agency or regulator, commit to establishing a Special Purpose Vehicle (SPV) with the lead member holding at least 26 percent equity and the technical member at least 10 percent equity, complete a mandatory site visit, and submit statutory documents including PAN, GST registration, authorisations and supporting certificates as part of the EOI process.