Indian Oil Issues EPC Tender for 1 MW Solar Project in Andhra Pradesh

Indian Oil Corporation (IOCL) is seeking proposals for the engineering, procurement, and construction (EPC) contract for a 1 MW solar power project located at Southern Region Pipelines in Chittoor, Andhra Pradesh.

The scope of the contract includes not only the project’s commissioning but also one year of comprehensive operation and maintenance services post-construction, along with an additional four years of extended operation and maintenance support.

Interested parties must submit their bids by April 10, 2024, with bid openings scheduled for the following day.

Prospective bidders are required to provide an earnest money deposit of ₹518,500. Upon selection, successful bidders must furnish performance security equivalent to 10% of the contract value within 30 days from the date of bid acceptance.

Eligible bidders must demonstrate an annual turnover of at least ₹3.222 crore in any of the last three financial years.

Bidders must have executed at least one identical work order of ₹2.685 crore, two similar works of ₹2.148 crore, or three similar works of ₹1.611 crore over the past seven years.

Experience in executing EPC contracts for on-grid solar power projects with net metering, gross metering, net billing, or open access projects of 500 kW or greater for any industry is required.

Penalties for delays in project completion are outlined, with liquidated damages amounting to 1% of the contract value for each week or part thereof, capped at 5% of the contract value.