Punjab State Power Corporation Limited (PSPCL) has issued a Request for Selection (RfS) for the purchase of power from 200 MW grid-connected solar photovoltaic (PV) power projects located anywhere in Punjab. The RfS, aims to select eligible bidders through e-bidding using the Swiss Challenge Method.
Under the Swiss Challenge Method, PSPCL has received an existing offer from a bidder for a 200 MW capacity at a tariff of Rs. 2.75/kWh. PSPCL is now inviting bids from prospective challengers to this offer. The process will be conducted through the ETS portal.
Interested bidders are required to submit their technical and financial bids on the ETS portal before the specified date and time. Only bids for the full capacity of 200 MW will be accepted, and partial capacity bids will not be permissible. Bidders may submit a bid lower than the base bid price, considering the minimum decrement value of Rs. 0.01/kWh.
If no counter bid lower than the base bid is received, the base bid will become the winning bid, subject to final approval by the competent authority. However, if counter bids lower than the base bid are received, the lowest counter bid will become the challenger bid. The Base Bid provider will then have the opportunity to match or offer a lower price than the challenger bid. If the Base Bid provider matches or offers a lower price, their bid will become the winning bid. Otherwise, the challenger bid will be selected as the winning bid.
The acceptance of the offer is at the sole discretion of PSPCL and is subject to approval by the competent authority.
Prospective bidders are advised to refer to the tender documents, including the RfS and draft PPA, for detailed information and instructions regarding the bidding process.
PSPCL’s initiative aims to encourage the development of grid-connected solar PV power projects in Punjab and support the state’s renewable energy goals.
Deadline for Bid Submission for 200 MW Grid-Connected Solar PV Projects is June 30, 2023 and the bids will be opened on July 4, 2023.