Madhav Infra Wins 15 MW Floating Solar Contract from NTPC-SAIL JV

The project is to be executed within 12 months from the award date

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Madhav Infra Projects (MIPL), an engineering, procurement, and construction (EPC) contractor, has received a letter of acceptance from NTPC-SAIL Power Company (NSPCL), a joint venture of NTPC and SAIL, to develop a 15 MW floating solar photovoltaic project at the Maroda Reservoir-I in Bhilai, Chhattisgarh.

The contract, valued at ₹900 million (~$10.8 million), involves the design, engineering, procurement, construction, installation, commissioning, operation, and maintenance of the grid-connected floating solar project.

The project scope includes the comprehensive design of the solar plant, encompassing civil, electrical, and mechanical auxiliary systems, and the supply and installation of solar modules in the designated area.

MIPL will also be responsible for the power evacuation system, a three-year operation and maintenance period post-commissioning, and an annual maintenance contract for critical equipment.

The project is to be executed within 12 months from the award date.

NSPCL had invited bids for this 15 MW floating solar project in January this year. The last date for bid submission was February 2, 2024. Participation in this tender was limited to ‘Class-I local suppliers’ and ‘Class-II local suppliers’ only.

In 2021, Madhav Infra Projects received a letter of intent from Gujarat State Electricity Corporation to perform the EPC activity for the 20 MW grid-connected solar power project at Chhattar in Jamnagar district of Gujarat. The estimated value of the contract was ₹872.7 million (~$12.01 million).

NTPC overachieved its bidding target set by the Ministry of New and Renewable Energy by 20.4% in the first year of such a trajectory. The company issued 15.1 GW of tenders for solar projects compared to its target of 12.5 GW. Of these, it has auctioned nearly 10 GW.

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