The Maharashtra State Electricity Distribution Company Limited (MSEDCL) has issued an invitation for bids to acquire 1 GW of grid-connected solar power, aiming to fulfil its renewable purchase obligations and future energy requirements.
The deadline for bid submission is April 3, 2024, with bid opening scheduled for the same day.
The cost of the bidding documents is ₹25,000 and the bid processing fee is ₹15 lakhs.
In accordance with the terms of the bidding document, winning bidders would sign 20-year power purchase agreements (PPAs) with MSEDCL in order to purchase solar energy from new or ongoing projects all over India. Tariffs will be determined through a competitive bidding process followed by a reverse e-auction. Projects must be operational within 24 months of PPA execution.
All associated expenses, including wheeling charges and losses, will be the responsibility of the winning bidder.
Project capacities must range from a minimum of 50 MW to a maximum of 1,000 MW per bidder. Accepted technologies include commercially established solar photovoltaic options like crystalline silicon or thin film, with or without trackers, if they comply with the Ministry of New and Renewable Energy’s (MNRE) Approved List of Models and Manufacturers.
Projects under construction or lacking long-term PPAs will be considered, provided they are not already committed to other government initiatives and have no obligations to existing buyers.
The tender is open to both Indian and foreign companies, including bidding consortiums.
Bidders must provide an earnest money deposit of ₹8 lakh per MW. Signing the PPA requires a performance bank guarantee of ₹20 lakh per MW.
Financial eligibility criteria mandate a minimum net worth of ₹1 crore/MW for the previous fiscal year, in addition to a minimum annual turnover of ₹35.17 lakh/MW of the quoted capacity during the same period.
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