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					</table><p>Gujarat Urja Vikas Nigam (<a href="https://www.guvnl.com/" target="_blank" rel="noopener">GUVNL</a>) has invited bids from consultants to help prepare tender documents and carry out the bidding process to procure energy storage capacity from pumped storage projects (PSPs) on a long-term basis.</p>
<p>The last day to submit the bids is October 7, 2023. Bids will be opened on October 11.</p>
<p>Bidders must submit a tender processing fee of ₹15,000 (~$181) and an earnest money deposit of ₹50,000 (~$603).</p>
<p>The selected consultant must submit a security deposit of 10% of the total contract value within ten days of issuance of the work order.</p>
<p>The scope of work includes the preparation of tender documents, assisting GUVNL in floating the tender, holding bidders’ conference, assistance in conducting e-bidding, evaluation of technical and financial bids, and support to GUVNL for adoption of tariff before the Gujarat Electricity Regulatory Commission.</p>
<p>The estimated duration of the assignment is five months. However, the assignment will terminate only after concluding the tender and finalizing the tariff.</p>
<p>Bidders must have a minimum average annual turnover of ₹500 million (~$6.03 million) from consultancy services during the three preceding financial years. They should have a positive net worth.</p>
<p>Any delay attributable to the consultant beyond the scheduled completion period of the entire work will attract liquidated damages at 0.5% of the contract value per week, subject to a maximum of 10% of the contract value.</p>
<p>The Ministry of Power recently <a href="https://www.mercomindia.com/guidelines-developing-pumped-storage-projects" target="_blank" rel="noopener">released</a> guidelines to regulate and promote the development of pumped storage projects in the country. These guidelines clarified the methods for allotment of project sites through competitive bidding and ruled out any upfront premium for project allocation to make it financially viable.</p>
<p>Last December, the Ministry <a href="https://www.mercomindia.com/ministry-of-power-waives-ists-charges-hydropower-projects" target="_blank" rel="noopener">issued</a> an order waiving the interstate transmission system charges on evacuating electricity from new hydropower projects in the country. This waiver is available to hydropower projects for which construction work is awarded, and power purchase agreements are signed by June 30, 2025.</p>
<p>Subscribe to Mercom’s <a href="https://www.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>
<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/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</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/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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Gujarat DISCOM Floats Consultancy Tender for Pumped Storage Projects

<p>From: <a href="https://mercomcapital.com/project-finance-brief-cip-acquires-hydro-projects/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Copenhagen Infrastructure Partners (CIP) has </strong><a href="https://tinyurl.com/mercomcasl" target="_blank" rel="noopener noreferrer"><strong>acquired</strong></a><strong> ownership of the Swan Lake (Klamath County, Oregon) and Goldendale (Klickitat County, Washington) closed-loop pump storage hydro projects. </strong>The projects were previously owned and in development under a joint venture between Rye Development and National Grid. Swan Lake is a 400 MW project that secured its 50-year Federal Energy Regulatory Commission (FERC) license in 2019. Goldendale is a 1,200 MW project that has filed an application with FERC in June of 2020. Rye will continue to lead the development of the two projects until the start of construction.</p>
<p><strong>Ameresco, an energy efficiency and renewable energy company, </strong><a href="https://www.ameresco.com/ameresco-secures-up-to-30m-construction-loan-facility-with-fifth-third-bank/" target="_blank" rel="noopener noreferrer"><strong>announced</strong></a><strong> that it had closed a construction loan facility for up to $30 million to finance solar projects and assets. </strong>The financing was secured through a construction loan facility from Fifth Third Bank, National Association. This non-recourse facility allows Ameresco to draw loan proceeds for solar projects in construction to bridge their permanent financing or sale upon commercial operation.</p>
<p><strong>Q CELLS, a total energy solutions provider, has </strong><a href="https://tinyurl.com/mercompdht" target="_blank" rel="noopener noreferrer"><strong>secured</strong></a><strong> the project development rights for a 429 MW solar portfolio in Spain from RIC Energy, further boosting Q CELLS’ downstream solar pipeline in the country.</strong> Q CELLS’ downstream business unit signed an agreement to purchase 429 MW of new solar capacity in Spain, projected to achieve ‘Ready to Build’ status by the fourth quarter of 2021.</p>
<p><strong>Cypress Creek Renewables, a developer and owner of solar generating assets, </strong><a href="https://tinyurl.com/mercomcypr" target="_blank" rel="noopener noreferrer"><strong>announced</strong></a><strong> that it had closed a seven-year, $200 million debt financing for the holding company that owns Cypress Creek’s 1.6 GW portfolio of operating solar projects.</strong> The facility finances a portfolio comprised of more than 200 solar and storage projects across 13 states. Investec Power and Infrastructure Finance &#8211; North America acted as sole bookrunner, coordinating lead arranger and administrative agent on the transaction. In addition to Investec, other joint lead arrangers for the transaction included Credit Agricole, East West Bank, and Silicon Valley Bank.</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener noreferrer"><strong>here</strong></a>.</p>
<p>Read last week’s project finance <a href="https://mercomindia.com/project-finance-brief-luxcara-acquires-solar/" target="_blank" rel="noopener noreferrer"><strong>brief</strong></a>.</p>
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<p>Image credit: Saulelis at English Wikipedia, CC BY-SA <a href="https://creativecommons.org/licenses/by-sa/3.0" target="_blank" rel="noopener noreferrer">3.0</a>, via Wikimedia Commons</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>

Project Finance Brief: CIP Acquires 1.6 GW of Pumped Storage Hydro Projects in the US

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