HPCL Requests EoI For Acquiring Green Energy Assets Of At Least 50 MW Capacity

In order to sell their wind, solar, and wind-solar hybrid assets with or without battery storage with a minimum capacity of 50 MW, renewable energy businesses or asset owners with absolute control of their assets are invited by Hindustan Petroleum Corporation (HPCL), a government-owned oil and gas refiner, to submit expressions of interest (EoIs).

The renewable assets must be contained within one state and have a minimum capacity of 50 MW.

The deadline for submitting online bids is February 28, 2023, which will be opened on that day only.

The winning bidder will be required to provide a performance bank guarantee in the amount of 10% of the supplied materials’ worth.

HPCL has specified that the projects should only use Class-I and Class-II locally supplied parts. 

Micro and Small Enterprises (MSEs) will be given precedence. If L1 is not an MSE, MSE quotations that fall within the L1 + 15% price range may satisfy a portion of the demand by matching L1’s price.

If more than one MSE is available within the L1 + 15% price range, 25% of the tender value will be split evenly among the qualified businesses, provided that the L1 price is met.

A minimum of 95% of the projects should have been available as of the bid submission date and all provided projects should have been running continuously for the previous 12 months.

The project is required to have power purchase agreements (PPAs) with any commercial and industrial (C&I) clients, state or central government agencies, or DISCOM. Further, the project ought to have a minimum remaining life of 10 years from the date of bid submission.

The projects must be connected to the substation of the state transmission utility (STU), distribution company (DISCOM), or central transmission utility (CTU), per the procurement document.

The vendor will remove the item at its own cost and risk within the time frame authorized by the corporation if testing and inspection by inspectors at any point reveal the equipment, material, and craftsmanship do not meet specifications and standards.