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					</table><p>Gujarat Urban Development Company (<a href="https://www.gudcltd.com/" target="_blank" rel="noopener">GUDC</a>) has invited bids to select a consultant for the development of 150 MW of solar power projects under captive model to cover the energy demands of the urban local bodies in the state.</p>
<p>The last date to submit the bids is January 17, 2023. Bids will be opened on January 25.</p>
<p>Bidders will have to furnish ₹100,000 (~$1,208) as an earnest money deposit. The successful bidder must furnish an amount equivalent to 5% of the consultancy fee as a security deposit.</p>
<p>According to the terms of the tender, the consultant should analyze the collected data and suggest the contract demand of each urban local body. It must also finalize the actual capacity of the solar project to be installed under the captive model, covering the final contract demand of each urban local body of the state.</p>
<p>The selected consultant must submit a detailed report, including feasibility, project report, and procurement model, within 120 days of signing the agreement. It will then be responsible for submitting the final tendering documents, which will be floated by GUDC.</p>
<p>The consultant should also study and suggest the best technology available for the solar project.</p>
<p>Bidders should have experience executing one similar assignment of a value not less than ₹10 million (~$120,752) in the last seven years. Further, they should have also executed one similar assignment for a minimum 75 MW grid-connected solar power project.</p>
<p>Additionally, bidders must have experience in executing solar projects of a cumulative capacity of 300 MW, with each project not less than 5 MW.</p>
<p>The minimum financial turnover of bidders in the last financial year should not be less than ₹10 million (~$120,752).</p>
<p>Last December, GUDC <a href="https://mercomindia.com/empanelment-tender-for-solar-project-consultants-in-gujarat/" target="_blank" rel="noopener">invited</a> bids to empanel consultants to set up 7.7 MW of grid-connected solar power projects at water treatment plants, sewage treatment plants, and pumping stations of municipality-owned buildings and land in the state.</p>
<p>Earlier, the Gujarat State Electricity Corporation had <a href="https://mercomindia.com/consultancy-tender-25-solar-projects-gujarat/" target="_blank" rel="noopener">issued</a> an e-tender inviting consultancy services to verify the designs and drawings of 25 solar projects.</p>
<p>Subscribe to Mercom’s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker </a>for timely updates on all solar tenders issued by various agencies in India.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/rakesh-ranjan-parashar/" class="vcard author" rel="author"><span class="fn">Rakesh Ranjan</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Rakesh Ranjan,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener">More articles from Rakesh Ranjan.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="77" height="102" /><a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener"><strong style="color: #00b451">Rakesh Ranjan</strong></a> is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). <a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" rel="noopener noreferrer">More articles from Rakesh Ranjan.</a></p>
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Gujarat Issues Consultancy Tender to Develop 150 MW of Solar Projects

<p>Leading telecom operator Bharti <a href="https://www.airtel.in/about-bharti/about-bharti-airtel" target="_blank" rel="noopener noreferrer">Airtel</a> Limited has entered into an agreement with AMPSolar Evolution Private Limited (AMPSolar), a wholly-owned subsidiary of AMPSolar Technology Private Limited (AMP), to acquire equity shares and compulsorily convertible debentures (CCDs) as part of a group captive solar project deal.</p>
<p>As per the Bombay Stock Exchange (<a href="https://www.bseindia.com/" target="_blank" rel="noopener noreferrer">BSE</a>) filing, the acquisition doesn’t fall under the purview of “related party transactions.” The acquisition is scheduled to be completed by April 2020, which is the scheduled commercial operation date.</p>
<p>The total cost of acquisition is ₹84 million (~$1.2 million) which includes subscription of 84,000 (26%) equity shares of ₹10 (~$0.141) each in tranches and subscription of 83,160 (26%) of CCDs of ₹1,000 (~$14.1) each.</p>
<p>Speaking to Mercom, a company spokesperson for AMPSolar said, “Airtel will be buying power from us in Uttar Pradesh through the group captive model. We are also in talks with other companies, and it will take some time to materialize.”</p>
<p>The Sunil Bharti Mittal-led firm has signed the agreement with the primary objective to meet the green energy needs and comply with the regulatory requirement.</p>
<p>Large corporations in India are slowly getting into renewable energy. As most states have made it extremely difficult to procure solar energy through open access by adding a slew of additional charges on consumers, <a href="https://mercomindia.com/group-captive-solar-market-2019/" target="_blank" rel="noopener noreferrer">group captive</a> has become a more attractive model.</p>
<p>Unlike an individual captive or third-party sale power project, group captive is an arrangement through which a developer sets up a power project for the collective use of multiple industrial or commercial consumers who have 26% equity in the project and must consume 51% of the power produced. Typically, in a group captive setup, a developer will build the project under a special purpose vehicle (SPV) company and offer 26% equity to the consumer. Further, an agreement is entered into to buy back the shares on the termination of the procurement contract.</p>
<p>In May this year, Mercom <a href="https://mercomindia.com/cipla-to-acquire-26-stake-in-amp-solar/" target="_blank" rel="noopener noreferrer">reported</a> that Mumbai-based pharmaceutical giant Cipla Limited signed an agreement to acquire a 26% stake on a fully diluted basis in AMPSolar Power Systems Private Limited. AMPSolar Power Systems is a wholly-owned subsidiary of AMP Solar Technology Private Limited, and the special purpose vehicle (SPV) was formed with the sole purpose of setting up a captive power plant in Maharashtra.</p>
<p>Previously, Mercom had <a href="https://mercomindia.com/mpuvnl-35mw-solar-rooftop-auction/" target="_blank" rel="noopener noreferrer">reported</a> that AMPSolar quoted the lowest tariff (L1) of ₹1.58 (~$0.022)/kWhat the auction held by the Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL) for the development of 35 MW of grid-connected rooftop solar under RESCO model. The company will install rooftop solar at ten sites of Power Grid Corporation of India (<a href="http://www.powergridindia.com/" target="_blank" rel="noopener noreferrer">PGCIL</a>), a central government PSU, with an estimated capacity of 2.25 MW. The total capacity won by AMPSolar is 7.42 MW distributed among 27 sites. The company quoted the maximum tariff of ₹1.67 (~$0.024)/kWh for institutions of central government or of national importance.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/staff/" class="vcard author" rel="author"><span class="fn">Staff</span></a></div><div class="saboxplugin-desc"><div itemprop="description"></div></div><div class="clearfix"></div></div></div>

Airtel Makes its Foray into Solar Through the Group Captive Model

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