The project is to be developed under the Build-Own-Operate-Transfer (BOOT) Model with an option to transform to captive mode at multiple land parcels of Vedanta Limited in District Jharsuguda of Odisha
March 04, 2020. By News Bureau
Vedanta Limited has announced that it has issued a Request for Proposal (RfP) for the choice of developers for setting up of 100 MW ground-mounted solar project through tariff-based competitive bids (with reverse auction). The project is to be developed under the Build-Own-Operate-Transfer (BOOT) Model with an option to transform to captive mode at multiple land parcels of Vedanta Limited in District Jharsuguda of Odisha.
The last date for submission of responses to the tender is March 18, 2020, and the techno-commercial bids will be opened on March 24, 2020. A pre-bid meeting has been scheduled for March 5, 2020, to address the concerns raised by the prospective bidders.
As per the RfP, Vedanta Limited, Jharsuguda (VLJ) is an obligated entity that has to procure renewable power in order to meet its Renewable Purchase Obligation (RPO). In order to meet such obligations, VLJ desires to install 100 MWp of solar power project on its freehold land parcels located within and around its Aluminum plant in Jharsuguda, Odisha. The project is to be developed through experienced developers under the BOOT model for the supply of power for a period of 25 years from the date of commissioning of the project.
The successful bidder has to create a Project Company for developing the project. As per terms of this RFP, the successful bidder is under obligation to allow VLJ to acquire 26 percent equity in such company at book value within one-year of COD of the entire contracted capacity in order to maintain the status of the project as captive plant under the law.
To be qualified for partaking in the bidding process,
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