NTPC Extends Bid Submission Deadline of 1200 MW Solar Tender

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The National Thermal Power Corporation Limited (NTPC) has issued a notice regarding the extension of bid submission for the selection of solar power developers to install 1200 MW Interstate Transmission System (ISTS)-connected solar PV power projects in India.

The last date for the submission of bids is extended from 19th March 2020 to 28th May 2020 and the date scheduled for the pre-bid conference is 12 May 2020. 

On 18 February 2020, NTPC had issued a request for selection (RfS) of 1200 MW ISTS-connected solar projects. To participate in this tender bidders shall submit earnest money deposit (EMD) of Rs.400,000.

The minimum capacity that a bidder can bid for this project is 50 MW and in multiples of 10 MW upto a maximum quotable capacity of 600 MW. Bidders are only allowed to quote a single tariff. The ceiling tariff for the tender has been set at Rs.2.78.

To be eligible to take part in the international competitive bidding process bidders must have a net worth of Rs.8 million as of the last financial year and should have a minimum annual turnover of Rs. 4.14 million.

Recently, Tata Power Solar, an integrated solar company and a wholly-owned subsidiary of Tata Power said it has received the Letter of Award (LoA) to build the 300 MW under the CPSU-II scheme for NTPC at an all-inclusive price of Rs 1,730.16 crore. The company had bagged the order in a post reverse auction held on February 21. The Commercial Operation Date (COD) for this grid-connected solar photovoltaic project is set for September 2021 (18 months).

On 14th April, NTPC has decided to raise Rs. 4,374.10 crore on 16 April 2020 through the placement of unsecured non-convertible bonds. As per the press release the funds will be utilized for, inter alia, funding of capital expenditure, refinancing of existing loans and other general corporate purposes. The document stated that these bonds are proposed to be listed on both NSE & BSE. Bond Trust Deed for these bonds will be duly executed as per the requirements of and within the period prescribed under, the Companies Act and rules specified therein.

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