Torrent Power Issues RfS for Procurement of 300 MW Solar Power from Projects in Gujarat
The last date for submission of bid is February 12, 2019
January 14, 2019
Torrent Power Limited (TPL) has issued Request for Selection (RfS) for the procurement of up to 300 MW of power from grid-connected solar photovoltaic power projects in Gujarat.
A bidder can bid for a maximum capacity of 150 MW and a minimum capacity of 50 MW.
The last date for submission of bids is February 12, 2019. The technical bids will open on February 13, 2019 and financial bids will open on February 20, 2019.
Torrent will sign power purchase agreement with the successful bidders for a period of 25 years from the scheduled commercial operation date of the project. The bidders will be free to avail fiscal incentives like accelerated depreciation, concessional customs and excise duties, tax holidays, benefits from trading of carbon credits, etc. as available for such projects.
To be eligible to bid, a bidder should have executed at least 50 MW of solar power projects.
The bidder should also have an annual turnover of ₹20 million (~$0.28 million) per MW for the financial year ended on March 31, 2018.
Recently, Torrent Power received approval from Gujarat Electricity Regulatory Commission (GERC) to procure wind power at ₹3.27 (~$0.046)/kWh in Gujarat.
Back in November 2018, the GERC approved Torrent Power’s petitions for the acceptance of deviations from the Ministry of Power (MoP)’s guidelines for the procurement of solar and wind power. Torrent had petitioned the GERC to approve the deviations sought for the procurement of both wind and solar.
Earlier this month, the Gujarat Urja Vikas Nigam Limited issued Request for Selection (RfS) for the purchase of power from 500 MW grid connected solar photovoltaic power projects to be set up in Gujarat (Phase IV).
According to Mercom’s India Solar Project Tracker, Gujarat has commissioned ~1.5 GW of large scale solar projects and ~1.7 GW of projects are currently in the development pipeline.
Nitin is a staff reporter at Mercomindia.com and writes on renewable energy and related sectors. Prior to Mercom, Nitin has worked for CNN IBN, India News, Agricultural Spectrum and Bureaucracy Today. He received his bachelor’s degree in Journalism & Communication from Manipal Institute of Communication at Manipal University and Master’s degree in International Relations from Jindal School of International Affairs. More articles from Nitin Kabeer