Torrent Power Invites RfS for Acquiring Power worth 300 MW from Solar Projects in Gujarat

Torrent Power Limited has announced that it has released a Request for Selection (RfS) for purchasing of power through competitive bidding process trailed by e-reverse auction up to 300 MW from grid-connected solar photovoltaic power projects in Gujarat.

The final date for submission of bids is February 12, 2019. The technical bids will open on February 13, 2019, and financial bids will open on February 20, 2019.

To be entitled to bid, each bidder should have implemented at least 50 MW of solar power projects, and should also have an yearly turnover of Rs 20 million per MW for the financial year ended on March 31, 2018. A bidder can bid for a minimum capacity of 50 MW and a maximum capacity of 150 MW.

Torrent will mark power purchase agreement (PPA) with the successful bidders for a period of 25 years from the scheduled commercial operation date of the project.

The bidders will be free to benefit fiscal incentives like accelerated depreciation, concessional customs and excise duties, tax holidays, benefits from trading of carbon credits, etc. as available for such projects.