NTPC Invites Bids from Financial Advisors for 50 MW Solar Project in Sri Lanka

The last date to submit the bids is February 21, 2024


NTPC has invited bids for the appointment of a financial advisor for a 50 MW solar power project in Sampur, Sri Lanka.

Trincomalee Power Company (TPCL), a 50:50 joint venture between NTPC and Ceylon Electricity Board (CEB), Sri Lanka, is developing a 50 MW solar project that is extendable to 135 MW in Sampur in two phases.

The first phase of work includes the development of a 50 MW solar project on a build-own-operate basis and a 38 km transmission line on an annuity payment basis. For the project, TPCL is expected to submit a techno-commercial bid proposal to CEB along with a vetted financial model prepared by a financial advisor.

The scope of work of the selected financial advisor will include financial modeling, advisory on investment risk and their mitigation, advisory on taxation, regulation in respect to investment and setting of solar power plant in Sri Lanka.

They will also have to prepare and submit the Strategic Development Project application and provide opinions and advice on transaction documents for the Sampur Solar Project.

The last date to submit the bids is February 21, 2024. Bids will be opened on the same day at 5 pm.

Bidders must submit a bid security amount of ₹100,000 (~$1,206).

Micro and Small Enterprises) registered with the Udyam Registration Portal will be issued the bid documents free of cost and shall be exempted from paying bid security.

The selected bidder must provide an irrevocable contract performance guarantee in the form of a bank guarantee of value equivalent to 10% of the total contract price within 30 days after the date of issue of the Letter of Award.

Indian laws will govern the consultancy work under the tender for the time being in force, and Delhi courts alone will have jurisdiction on all matters arising under the contract.

Bidders should quote the lump sum price for the entire scope of services as per the scope of work.

In November 2023, the CEB, under the Ministry of Power and Energy, Sri Lanka, issued an expression of interest for constructing two 100 MW floating solar power projects on the Samanalawewa reservoir in the Ratnapura district.

In February 2023, Adani Green Energy, the renewable energy arm of Adani Group, was awarded the letter of approval for two wind energy projects to be developed in the Mannar and Ponneryn areas of northern Sri Lanka. The two projects were to receive a total investment of $442 million.

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