NMMC Calls for Bids to Develop 100 MW Floating Solar and 1.5 MW Hydroelectric Projects
As per the tender specifications, interested parties have until April 2 to submit their bids.
March 27, 2024. By Abha Rustagi
The tender seeks proposals for the establishment of a 100 MW floating solar project alongside a 1.5 MW hydroelectric project. As per the tender specifications, interested parties have until April 2 to submit their bids. Following the submission deadline, the bids are scheduled to be opened on the subsequent day.
Outlined within the project details are plans for the Floating Solar PV Power Plant to be implemented in two phases, with 60 MW slated for Phase 1 and an additional 40 MW earmarked for Phase 2. NMMC seeks to maintain a minimum equity participation of 26 percent in the Special Purpose Vehicle (SPV) company executing the project, with the provision to potentially increase its stake to 49 percent.
With electricity generation targets set in place, the project aims to produce 10.80 Million units of alternate current (AC) annually from the hydroelectric plant and a substantial 208.8 Million units of alternate current (AC) from the floating solar energy project, divided into 125.28 MU from Phase 1 and 83.52 MU from Phase 2.
In terms of financial requisites, interested parties are required to procure the Request for Proposal (RFP) document at a cost of INR 5,900/-, along with providing an earnest money deposit (EMD) amounting to INR 50,00,000 (Online) or INR 2,00,00,000 (Bank Guarantee). Additionally, successful bidders must submit a performance security of INR 32.5 crores via bank guarantee within 30 days of receiving the Letter of Award (LOA).
NMMC stipulates that the Power Purchase Agreement (PPA) signing must be completed within 30 days from the date of issuance of the LOA.
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