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					</table><p>Japan-based <a href="https://www.sumitomocorp.com/en/global" target="_blank" rel="noopener">Sumitomo Corporation</a> will invest in a 500 MW solar and wind project with a co-located 200 MWh battery energy storage system in Bidar, Karnataka, being developed by Hero Future Energies (<a href="https://www.herofutureenergies.com/" target="_blank" rel="noopener">HFE</a>), the renewable energy arm of the Hero Group.</p>
<p>Power generated by the project will be sold to SJVN under a 25-year power purchase agreement. Some of the surplus electricity generated will be sold via the energy exchange market.</p>
<p>Sumitomo Corporation will acquire a 49% stake in Clean Solar Power (Baniyana), the project company, while Hero Solar Energy, a wholly owned subsidiary of HFE, will hold the remaining 51%. Commercial operations are expected to begin in March 2027.</p>
<p>The development comes months after infrastructure debt fund IL&amp;FS Mutual Fund <a href="https://www.mercomindia.com/ilfs-mutual-fund-commits-%E2%82%B91-25-billion-investment-in-hero-solar-energy" target="_blank" rel="noopener">committed</a> an investment of ₹1.25 billion (~$13.63 million) in Hero Solar Energy. The fresh capital will be used for refinancing the company&#8217;s debt and support the expansion of its renewable projects.</p>
<p>In October last year, HFE <a href="https://www.mercomindia.com/hero-energies-secures-%E2%82%B919-8-billion-funding-from-sbi-canara-bank" target="_blank" rel="noopener">secured</a> a loan of ₹19.8 billion (~$221 million) from the State Bank of India and Canara Bank for the development of a 120 MW wind-solar hybrid project with energy storage systems.</p>
<p>The same year, HFE <a href="https://www.mercomindia.com/hero-future-gets-%E2%82%B910-billion-funding-from-sbi-for-60-mw-hybrid-power-project" target="_blank" rel="noopener">secured</a> 10.24 billion (~$115.43 million) in funding from SBI for a 60 MW hybrid project in Andhra Pradesh’s Kurnool district. The project, which combined solar, wind, and storage and was contracted with the Solar Energy Corporation of India.</p>
<p>Global solar companies <a href="https://www.mercomindia.com/solar-corporate-funding-jumps-56-yoy-to-16-9-billion-in-1h-2026" target="_blank" rel="noopener">raised</a> $16.9 billion in corporate funding during the first half (1H) of 2026, a 56% year-over-year increase from $10.8 billion in 2025, according to Mercom Capital Group’s 1H and Q2 2026 Solar Funding and M&amp;A Report. The number of corporate funding deals increased by 23%, from 78 in 1H 2025 to 96 in 1H 2026.</p>



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					</table><p><a href="https://ntpcrel.co.in/" target="_blank" rel="noopener">NTPC Renewable Energy</a>, a wholly owned subsidiary of NTPC, has invited bids for a land and power evacuation package to develop a 1,000 MW ISTS-connected solar project in Bidar, Karnataka.</p>
<p>The last date to submit the bids is November 8, 2024. Bids will be opened on the same day.</p>
<p>The scope of work is as follows:</p>
<p><strong>Land-Related Works</strong></p>
<ul>
<li>Arrangement of government/private land (5 acres/MW) on a freehold/leasehold basis near the Bidar Pooling substation (ISTS). The lease period will be a minimum of 29 years and 11 months.</li>
<li>An approach road to the pooling substation, including any interconnection between the plots by self or state machinery.</li>
<li>Topography survey for land parcels and any cutting/filling with 95% compaction per the standard Proctor density test to maintain an average slope of 10% to install the tracker-based MMS. (Tracker system is not included in the scope). The slope of land should preferably be in one direction for at least 100m in the N-S direction.</li>
<li>Geotech investigation for the pooling substation and the transmission system only as required to design foundations.</li>
<li>Fencing of the offered land, including entry/exit gates (at least two per plot) and security cabins.</li>
</ul>
<p><strong>Power Evacuation-Related Works</strong></p>
<ul>
<li>Arrangement of grid connectivity with the ISTS substation in Bidar.</li>
<li>Design, engineering, supply, erection, testing, and commissioning of an<br />
AIS Pooling substation (400 kV or 220kV as per quoted capacity) with Tie Transformers (400kV/33kV or 220kV/33kV- suitable quantity and rating in line with CEA standard specifications) and associated SAS and Protection;<br />
33 kV pooling switchgear for quoted capacity; and the design and construction of terminal bay at ISTS end;<br />
Associated civil work for substation, including Control Room Building and Pooling Switchgear building.</li>
<li>Telemetry system for data communication.</li>
<li>Design and construction of the EHV transmission line from the pooling substation to the ISTS substation per technical specifications and relevant standards, including arranging for the transmission line&#8217;s &#8220;Right of Way.&#8221;</li>
<li>Design and construction of terminal bay at ISTS end.</li>
</ul>
<p>The successful bidder must operate and maintain the pooling substation and associated equipment, the EHV transmission line, and the terminal bay at the ISTS end for three years from the project commissioning date.</p>
<p>NTPC REL intends to finance the project using its resources/borrowings.</p>
<p>The cost of the bidding documents is ₹22,500 (~$268.78).</p>
<p>The minimum capacity to be quoted by a bidder will be 300 MW and, in multiples of 100 MW beyond 300 MW.</p>
<p>Bidders should have completed grid-connected solar/wind projects/parks with a cumulative capacity of 100 MW or more, including at least one project/park of 50 MW or higher capacity. They should have arranged land and obtained technical feasibility approval for power evacuation through the STU/ISTS substation.</p>
<p>Bidders must have executed an industrial project of a minimum cost of ₹235.4 million (~$28.12 million) for capacities in the range of 50 MW – 300 MW and ₹785,000 (~$9,379) per MW for capacities more than 300 MW in the power/steel/oil and gas/petrochemical/fertilizer/cement/coal mining sectors in the last ten years.</p>
<p>Bidders must have also executed at least one 33 kV or higher electrical substation, including circuit breakers and power transformers.</p>
<p>The bidders&#8217; average annual turnover should be ₹235.4 million (~$28.12 million) for total quoted capacities in the 50 MW – 300 MW range in the last three financial years.<br />
The turnover for capacities over 300 MW should be ₹785,000 (~$9,379) per MW.</p>
<p>If bidders do not satisfy the annual turnover criteria, their holding companies must meet the stipulated turnover requirements, provided that their net worth is equal to or more than their paid-up share capital.</p>
<p>Bidders should have a positive net worth as of the last day of the previous financial year.</p>
<p>In August, NTPC REL <a href="https://www.mercomindia.com/ntpc-rel-tenders-land-and-solar-projects" target="_blank" rel="noopener">invited</a> bids for land and power evacuation packages to develop 1,000 MW solar power projects in the Mandsaur region, Madhya Pradesh.</p>
<p>Subscribe to Mercom&#8217;s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of real-time tender activity.</p>


NTPC Floats Land and Power Evacuation Tender for 1 GW Solar Project

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