NTPC Seeks Financial Advisor for 50 MW Solar Project in Sri Lanka with TPCL

NTPC has put out a call for bids to appoint a financial advisor for a 50 MW solar power venture in Sampur, Sri Lanka.

Trincomalee Power Company (TPCL), a joint endeavour split evenly between NTPC and Ceylon Electricity Board (CEB) in Sri Lanka, is spearheading the development of a 50 MW solar initiative, with future plans to expand it to 135 MW in two phases.

The initial phase involves setting up a 50 MW solar facility under a build-own-operate framework, alongside a 38 km transmission line on an annuity payment basis. TPCL is slated to present a techno-commercial bid proposal to CEB, complemented by a thoroughly scrutinized financial model drafted by the appointed financial advisor.

The designated financial advisor’s responsibilities span financial modelling, advising on investment risks and their mitigation, offering guidance on taxation, regulatory aspects concerning investment, and establishing a solar power plant framework in Sri Lanka. Furthermore, they are tasked with preparing and submitting the Strategic Development Project application and furnishing opinions and advice on transaction documents related to the Sampur Solar Project.

Bid submissions are due by February 21, 2024, with bids being unveiled on the same day at 5 pm.

Bidders are required to furnish a bid security deposit of ₹1 lakh. Micro and Small Enterprises registered with the Udyam Registration Portal will receive bid documents free of charge and are exempt from bid security payments.

The chosen bidder must furnish an irrevocable contract performance guarantee, in the form of a bank guarantee, amounting to 10% of the total contract value within 30 days of receiving the Letter of Award.

Consultancy activities under the tender will be governed by Indian laws currently in force, with disputes falling under the jurisdiction of Delhi courts.

Bidders are instructed to provide a lump sum price for the entire scope of services outlined in the scope of work.