In a significant development in India’s renewable energy sector, PFC Consulting Limited, a wholly-owned subsidiary of PFC Limited, a Maharatna Company under the Ministry of Power, Government of India, has issued a Request for Selection (RfS) Document.
The document seeks to identify Solar Power Developers for the establishment of 1250 MW ISTS-Connected Solar PV Power Projects across the country. This initiative is part of a Tariff-based Competitive Bidding scheme introduced under the Ministry of Power, Government of India, focusing on enhancing flexibility in the generation and scheduling of Thermal and Hydro Power Stations by bundling them with Renewable Energy and Storage Power.
One notable aspect of this RfS is that it includes the responsibility for securing land and connectivity within the scope of the Solar Power Developers, potentially streamlining project implementation. Interested parties should note that there is a non-refundable Document Fee of INR 25,000/- (plus GST at 18%) and a Bid Processing Fee of INR 15,00,000/- (plus GST at 18%) for each bid exceeding 300 MW. Furthermore, an Earnest Money Deposit (EMD) of INR 4,64,000/- per MW per Project is required in the form of a Bank Guarantee or Payment on Order Instrument.
To ensure performance, successful bidders will also need to provide a Performance Bank Guarantee of INR 23,20,000/- per MW within seven working days prior to signing the Power Purchase Agreement (PPA).
The Bid Submission deadline is set for 12th October 2023 at 15:00 hrs (IST), with the Techno-commercial Bid Opening scheduled for the same day at 15:30 hrs (IST). This initiative underscores India’s commitment to expanding its renewable energy capacity and fostering sustainable energy solutions while encouraging private sector participation.
Discover more from SolarQuarter
Subscribe to get the latest posts sent to your email.
