NHPC Invites Bids for 3 GW of ISTS-Connected Solar Projects
The last date to submit the bids online is August 3, 2023
NHPC has invited bids to select developers for setting up 3,000 MW of interstate transmission system (ISTS)-connected solar power projects across the country.
The bidders must submit bids for a minimum capacity of 50 MW and multiples of 10 MW thereafter. A bidder can offer to develop projects at multiple locations, with each project having a minimum capacity of 50 MW and the cumulative capacity offered not exceeding 1,000 MW.
The last date to submit the bids online is August 3, 2023. Bids will be opened on August 11.
Bidders must submit ₹560,000 (~$6,834)/MW of the quoted capacity as an earnest money deposit, subject to a minimum of ₹30 million (~$366,099) and a maximum of ₹100 million (~$1.22 million).
The successful bidder must furnish an amount equivalent to ₹1.677 million (~$20,465)/MW of the allocated capacity for each project as a performance bank guarantee.
The project must be commissioned within 18 months from the effective date of signing the power purchase agreement (PPA).
Already commissioned projects will not be considered under this tender. Projects under construction or not yet commissioned will be considered if they are not already accepted under any other central or state programs.
Only commercially established and operational technologies can be used to minimize the technology risk and to achieve the timely commissioning of the projects.
To be eligible, bidders should have a minimum annual turnover of ₹5.7 million (~$69,559)/MW of the quoted capacity during the last financial year.
The net worth of bidders should be at least ₹11 million (~$134,236)/MW of the project capacity as of the last date of the previous financial year.
Also, bidders should have internal resource generation capability in the form of Profit Before Depreciation, Interest, and Taxes (PBDIT) for a minimum amount of ₹1.14 million (~$13,912)/MW of the quoted capacity as of the last day of the previous financial year.
Additionally, the bidder should have an approval letter from the lending institution committing a line of credit for a minimum amount of ₹1.43 million (~$17,451)/MW of the quoted capacity toward meeting the working capital requirement of the project.
The solar project developer will be responsible for getting the ISTS connectivity.
NHPC has mandated that the solar module to be used for the project must be from the Approved List of Models and Manufacturers (ALMM) issued by the Ministry of New and Renewable Energy.
The declared annual capacity utilization factor (CUF) should, in no case, be less than 17%. The solar project developer should maintain generation to achieve annual CUF within + 10% and – 15% of the declared value till the end of ten years from the commissioning date, subject to the annual CUF remaining at a minimum of 15% and within +10% and -20% of the declared value of the annual CUF after that till the end of the PPA duration of 25 years.
In April this year, NHPC invited bids for the engineering, procurement & construction (EPC) of a 300 MW floating solar power project and the 220 kV transmission line at Rengali Reservoir in Angul, Odisha.
Earlier, NHPC had issued a notice inviting tender from EPC contractors to develop a 75 MW ISTS-connected solar power project.
Subscribe to Mercom’s India Solar Tender Tracker to stay on top of the real-time tender activity.