NHPC Limited has issued an engineering, procurement, and construction (EPC) tender for the development of a 300 MW floating solar power project along with a 220 kV transmission line at Rengali Reservoir in Angul, Odisha.
The proposals must be submitted by May 17, 2023, and on May 23, the bids will be revealed.
An amount of Rs. 100 million as earnest money deposit, is required from each bidder. Further, performance security equal to 3% of the contract’s value must be additionally provided by the winning bidder.
Within 21 months of getting the work order, the project must be commissioned.
For a period of five years, the chosen developer will also be responsible for managing all aspects of the project’s operation and maintenance (O&M).
The contractor is liable for liquidated penalties in the amount of Rs. 20,850/ MW per day of unfinished capacity if the project is not finished within the allotted time frame. The entire amount of liquidated damages should not be more than 10% of the contract value.
Additionally, during the O&M term, any deficit in power generation will be made up to 10% of the quoted generation at the current tariff. Up to 25% of the yearly contract value will be taken from O&M contract payments as a recovery of compensation.
The performance bank guarantee, which will be renewed by the EPC Contractor within three months, will be used to recoup any excess.
In order to participate in the bidding process, bidders must have expertise in erecting solar projects with a total installed capacity of a minimum of 40 MW, at least one of which must be 10 MW in capacity or more.
The minimum operating capital requirement for bidders is Rs. 1.7 billion.
As an EPC contractor or developer, applicants must have finished at least one electrical substation having a voltage of 33 kV or greater. Before the deadline for bid submission, the project must have been in operation for at least a year.
Further, enterprises having a minimum worth of Rs. 1.5 billion of a single project and functioning for over a ten-year period as a developer or EPC contractor in the process industry or infrastructure development are also qualified to submit a bid.
The prior 3 fiscal years’ average yearly turnover for bidders must be at least Rs. 3.1 billion to partake in bidding. For at least 3 of the previous 5 fiscal years, their net worth should have been positive.