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The Maharashtra State Electricity Distribution Company (MSEDCL) has issued an invitation for bids for the long-term purchase of 500 MW of grid-connected interstate wind-solar hybrid power.
For a period of 25 years from the project’s anticipated commercial operation date, MSEDCL will engage in a power purchase agreement (PPA) with the successful bidders to acquire wind-solar hybrid power.
The deadline for bid submission is November 10, 2022. A single hybrid power plant should have a minimum bid capacity of 50 MW.
Bidders must provide an earnest money deposit of Rs 500,000/MW/project in addition to a processing charge of Rs 300,000.
Before signing the contract, the winning bidder is required to provide a performance bank guarantee of Rs 1 million/MW.
The Interstate wind-solar hybrid projects that are currently being built, those that have not yet been put into service, and those that have been put into service but do not yet have a long-term PPA with any agency may be taken into consideration if they have not already been approved under other federal or state programs.
Energy from the projects will be delivered at the state transmission utility’s (STU) perimeter. The winning bidder would be in charge of establishing grid connectivity with STU i.e., Maharashtra State Electricity Transmission Company (MSETCL).
Only type-certified wind turbine models specified in the Revised List of Models and Manufacturers and solar modules defined under the Approved List of Models and Manufacturers, issued by the Ministry of New and Renewable Energy (MNRE) will be permitted for deployment.
As long as the companies are registered as corporations in accordance with the laws of their place of origin, foreign businesses are permitted to participate in the bidding process.
The yearly turnover of the bidders must be at least Rs 7.5 million/MW of the capacity stated during the previous fiscal year. Seven days before the bid submission, the net worth of the bidders must equal Rs 10 million/MW.
Additionally, bidders must provide a letter from the financing institution approving a line of credit for at least Rs 1.875 million per MW of the stated capacity toward the project’s need for working capital.
As of the final day of the preceding fiscal year, they should be able to generate internal resources in the form of profit before depreciation, interest, and taxes for at least Rs 1.5 million per MW of the specified capacity.
Throughout the 25-year PPA’s lifetime, the developer must maintain generation to reach an annual capacity utilization factor (CUF) of not less than 90% of the stated value and not more than 120% of the declared CUF value.