FAGMIL Invites Developers For 2.52 MW Solar Power Project In Rajasthan

FCI Aravali Gypsum and Minerals India Limited (FAGMIL), a Government of India enterprise, has announced its entry into the renewable energy sector by inviting developers for a solar power project in Rajasthan. The company has issued an Expression of Interest (EOI) for setting up a 2.52 MW AC solar power plant at Bhawad in Jodhpur district. The project will be developed under the Build-Own-Operate (BOO) model, under which the selected developer will be responsible for designing, financing, constructing, operating, and maintaining the plant for a period of 25 years.

This move supports India’s national target of achieving 500 GW of renewable energy capacity by 2030. As part of the agreement, the developer will supply power to FAGMIL under a Power Purchase Agreement (PPA) at a fixed tariff of ₹3.323 per unit. The plant is required to generate a minimum of 41.94 lakh units of electricity every year, ensuring a consistent energy supply over the contract period.

To participate in the bidding process, developers must meet specific financial eligibility criteria. The bidder should have a minimum net worth of ₹5 crore and an average annual turnover of at least ₹10 crore during the last three financial years. These requirements are intended to ensure that only financially capable and experienced developers take part in the project.

FAGMIL has laid out a clear timeline for the EOI process. The EOI was published on December 31, 2025. A pre-bid meeting is scheduled for January 5, 2026, to clarify project-related queries. Developers can submit their questions until January 15, 2026, and FAGMIL will issue responses by January 19, 2026. The final date for submitting the EOI is January 21, 2026, and the bids will be opened on January 22, 2026.

Financial security forms an important part of the bidding conditions. All applicants must submit an Earnest Money Deposit, also called Bid Security, of ₹2,00,000. This amount can be submitted through a Demand Draft, Bank Guarantee, or online transfer. No exemptions will be provided, including for startups or small enterprises. The selected bidder will also need to submit a Performance Bank Guarantee of ₹1,39,36,662 to ensure compliance with all project and performance obligations.

Once the project is awarded, the developer is expected to commission the solar power plant within four months, marking FAGMIL’s first step into renewable energy generation.