Vedanta’s Odisha Branch Calls for EOI for Obtaining Solar Power

Vedanta Limited has announced that it has called for Expression of Interest (EoI) for the purchase of solar power on short or medium term basis from solar power generators, state electricity boards and utilities, independent power producers and traders.

The delivery point for the generated power will be Vedanta Limited’s location in Odisha’s Jharsuguda. The least bid capacity is 20 MW and the ceiling has been fixed at 300 MW. The final date for bid submission is January 8, 2019. The price bid will open on January 10, 2019.

The successful bidders will enter into a power purchase agreement (PPA) within 15 days from the date of issuance of the letter of acceptance (LOA). They will also have to provide a contract performance guarantee (CPG) inside seven days of completion of the bidding process. Apart for these, the successful bidders will have to book the open access transmission corridor by applying to nodal regional load dispatch centers.

The traders presenting bids should have a valid license from the Central Electricity Regulatory Commission (CERC) or State Electricity Regulatory Commissions (SERC) for inter or intra-state trading of electricity.

Furthermore, the EoI affirms that none of the parties will be responsible to each other on account of breakdown or delay caused by unforeseeable circumstances (force majeure). Either of the two parties can cease the agreement by giving an advance notice of 30 days to the other party.