NHPC Limited, a leading power company, has announced its plan to procure solar power through a Competitive Bidding Process. The company aims to acquire a capacity of up to 3000 MW through an online bidding process followed by a reverse auction. Once the bidding process concludes, NHPC will enter into Power Purchase Agreements (PPAs) with the selected bidders for a period of 25 years, starting from the Scheduled Commissioning Date of the project.
To participate in the bidding process, the minimum project size required is 50 MW, with subsequent project sizes in multiples of 10 MW under the OPEN category. The total cumulative capacity offered should not exceed 1000 MW.
NHPC will sign PPAs with successful Solar Power Developers (SPDs) for a duration of 25 years, based on the terms and conditions specified in the PPA. Bidders are eligible to avail fiscal incentives such as Accelerated Depreciation, Concessional Customs and Excise Duties, and Tax Holidays, which are applicable to such projects.
The deadline for online bid submissions is set for August 3, 2023, with bid opening scheduled for August 11. Interested bidders must provide an earnest money deposit of Rs. 5.6 Lacs per MW (Five Lacs Sixty Thousand Per MW) in the form of a Demand Draft (DD), Bank Guarantee (BG), or Payment Order Instrument (POI). The minimum deposit required per project is Rs. 3 Crs, while the maximum is Rs. 10 Crs.
Successful bidders must ensure that their projects are commissioned within 18 months from the effective date of signing the PPA.
NHPC’s initiative to procure solar power through competitive bidding aims to enhance its renewable energy portfolio and contribute to the sustainable development of the power sector.
View the tender document for more details:
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