Param Renewable Wins Indian Oil’s O&M Auction for 5 MW Solar Project

The tender was floated in March this year


Gujarat-based Param Renewable Energy, the operation and maintenance (O&M) arm of Gensol, has been awarded a contract by the Indian Oil Corporation (IOCL) for the O&M of a 5 MW solar power project located at IOCL’s Rawra facility in the Jodhpur district of Rajasthan for three years.

Param Renewable quoted a figure of ₹14.72 million (~$179,496) for the O&M contract for three years.

The tender was floated in March this year IOCL.

The tender received technical bids from nine companies, of which only two qualified for financial evaluation, and the contract was awarded to Param Renewable Energy.

Shri Sai Electrical was the other company that qualified for the financial round.

Param Renewable will be responsible for all types of preventive, scheduled, and breakdown maintenance with the objective of maximizing electricity generation.

The company must ensure a minimum performance ratio of 76%, subject to 99.6% grid availability.

An initial security deposit of ₹124,800 (~$1,522) must be submitted by the company within 30 days from the issuance of the letter of acceptance.

They must arrange for and obtain all necessary permissions, permits, consents, and licenses, as may be necessary, to transport the equipment/material, machinery, and labor along or across the highway, roadway, railway, bridge, dike, dam, river or through posts of toll collection, octroi checks or other line border or barrier.

The company will also be responsible for ensuring that the evacuation line is in a working state and must coordinate with IOCL during the process of fault rectification and the consequent start of the project.

Also, they will remain exclusively responsible for providing all material, labor, equipment, machinery, facilities, utilities and consumables, temporary works, and other items required for or in connection with the work.

In April this year, IOCL invited bids for the annual O&M contract of a 1001.3 kW rooftop solar system installed at its Paradip Refinery and Township in Odisha.

Earlier, IOCL had invited bids for O&M of an existing 8 MW solar power project at the LPG bottling plant at Sanand in Ahmedabad for five years.

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