Punjab State Power Corporation (PSPCL) has taken a significant step towards harnessing solar energy by issuing a Request for Selection (RfS) Document for the purchase of 500 MW Solar Power. The procurement will be done through a single-stage two-envelope competitive bidding process, followed by an e-reverse auction. The power will be sourced from ground-mounted or floating solar photovoltaic power projects with a capacity of 2 MW and above, to be set up anywhere in Punjab.
Interested bidders can obtain the RfS Document at a cost of Rs. 25,000/- plus 18% GST (or as applicable) through NEFT/RTGS. Additionally, a non-refundable processing fee of Rs. 3 lakhs plus 18% GST (or as applicable) needs to be submitted.
To participate in the bidding process, bidders are required to furnish an Earnest Money Deposit (EMD) of Rs. 4 lakhs per MW. The successful bidders will be obligated to sign a 25-year Power Purchase Agreement (PPA) with PSPCL within 30 days of receiving the letter of intent. PSPCL has specified that the solar modules used must be from the Approved List of Models and Manufacturers issued by the Ministry of New and Renewable Energy.
The deadline to submit bids online is September 12, 2023, with the bidding process scheduled for September 14. The selected projects are expected to be commissioned within 18 months from the date of signing the PPA.
Interested bidders can offer a minimum capacity of 2 MW, while the cumulative capacity offered must not exceed 500 MW. The ceiling tariff for this tender has been set at ₹2.75/kWh.
To encourage participation, projects that are under construction, not yet commissioned, or already commissioned but without any long-term committed PPA with any agency, and those selling power on a short-term basis, will be considered if they are not already accepted under any other central or state programs and do not have any existing obligations towards buyers.
This initiative by PSPCL marks a significant move towards increasing the share of renewable energy in Punjab’s power mix, fostering environmental sustainability and energy security in the state.