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NHPC Invites Bids for 1200 MW ISTS-Connected Solar Power Projects

NHPC has recently issued a tender for setting up 1200 MW connected solar power projects anywhere in India with an additional 1200 MW capacity under a greenshoe option under TBCB. The last date for submission of bids is November 4, 2024.

October 09, 2024. By Mrinmoy Dey

NHPC Ltd. has floated a tender for the selection of solar power generators for setting up 1200 MW ISTS-connected solar power projects anywhere in India under Tariff Based Competitive Bidding (TBCB). It will also have an additional 1200 MW capacity under the greenshoe option.
   
The minimum project size will be 50 MW and in multiples of 10 MW thereafter under the ‘Open’ category. “The cumulative capacity offered should not exceed 600 MW without ‘Greenshoe Option’ and 1200MW for a bidder with ‘Greenshoe Option’,” specified the tender document further clarifying that for projects located in the North-Eastern States and Special Category, the minimum quantum of contracted capacity will be 30 MW.

Bidders can set up their solar power projects anywhere in India on land they identify and either purchase or lease at their discretion, expense, risk, and responsibility.

The project must be completed in 24 months. NHPC will enter into a PPA with successful SPGs for a period of 25 years from the date as per the provisions of the PPA.

The pre-bid meeting will be held on October 21, 2024. Bid submission closes on November 4, 2024. Bids will be opened on November 8, 2024.

The bidders need to deposit INR 3.54 lakh as a fee for the RfS document. Further, they need to pay a bid processing fee which varies depending upon the capacity bided. For 50 MW, the bid processing fee will be INR 3 Lakh; for above 50MW to 100 MW it will be INR 5 lakh; for above 100 MW to 250 MW it will be INR 10 lakh.

For the capacity of above 250 MW up to 500 MW, the bid processing fee would be INR 20 lakh. And, for capacity above 500 MW, the bidder needs to deposit INR 30 lakh. All the above amounts are exclusive of GST and thus, the bidders also need to pay 18 percent GST on it.    
 
The bidders also need to pay bid security of INR 9.42 lakh Per MW subject to a maximum of INR 10 crore.

The document specified that the selection of projects would be technology agnostic. “Crystalline Silicon or Thin Film or CPV, 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,” clarified the document.

As for financial eligibility, the Net Worth of the bidder should be equal to or greater than the value calculated at the rate of INR 0.94 Crore or equivalent USD per MW of the project capacity as on the last date of the previous financial year.

The bidder also needs to have a minimum annual turnover of INR 47.10 lakh/MW of the quoted capacity during the previous financial year.
The bidder also needs to have internal resource generation capability, in the form of Profit Before Depreciation Interest and Taxes (PBDIT) for a minimum amount of INR 9.42 lakh/MW of the quoted capacity, as on the last date of the previous financial year.

Further, an in-principle sanction letter from the lending institutions/banks of the bidder for the project quoted under the RfS, committing a Line of Credit for a minimum amount of INR 11.78 lakh/MW of the quoted capacity, towards meeting the working capital requirement of the project needs to be submitted.
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