Adani Electricity Mumbai Santacruz Electronics Export Processing Zone (AEML SEEPZ) has floated a tender to select developers to procure 50 MW of power from grid-connected solar projects.

The developer must arrange the projects’ land, connectivity, and general access network.

The last day to submit the bids is April 12, 2024. Bids will be opened on April 17.

Bidders must submit a document fee of ₹29,500 (~$354) and a document fee of ₹354,000 (~$4,247).

They must also furnish an earnest money deposit of ₹928,000 (~$11,166)/ MW/project.

Selected bidders must remit ₹2.32 million (~$27,923)/MW/project as a performance bank guarantee.

The minimum bid capacity must be 10 MW and above for intra-state solar projects and 50 MW and above bid capacity for inter-state solar projects. The projects must be quoted in multiple of 10 MW only.

Already commissioned solar projects may be considered if the capacity for which the bid is being submitted is not suo moto terminated any already signed power purchase agreements with renewable energy implementing agencies or state-owned power distribution companies (DISCOMs).

Solar projects under construction or not yet commissioned will be considered if these projects are not already accepted under other central or state projects.

The declared annual capacity utilization factor must be not less than 19%.

The bidders’ net worth should be at least ₹9.28 million (~$111,693)/ MW of the quoted capacity as of the last date of the previous financial year or on the day at least seven days before the bid submission deadline.

Their minimum annual turnover must be ₹3.75 million (~$45,134) /MW of the quoted capacity during the last financial year or as on the day at least seven days before the bid submission deadline.

Bidders must have an internal resource generation capability, in the form of profit before depreciation interest and taxes for a minimum amount of ₹751,000 (~$9,039)/ MW of the quoted capacity, as on the last date of the previous financial year or as on the day at least seven days before the bid submission deadline.

They must present an in-principle sanction letter from their lending institutions or banks, committing a line of credit for a minimum of ₹938,800 (~$11,299)/MW of the quoted capacity towards meeting the working capital requirement of the quoted project capacity.

Modules for the project must be from the Approved List of Models and Manufacturers issued by the Ministry of New and Renewable Energy.

Adani Electricity Mumbai was ranked the top DISCOM in the twelfth annual integrated ratings and rankings report for the financial year 2023, which assessed the financial and operational performance of 55 DISCOMs.

Subscribe to Mercom’s India Solar Tender Tracker to stay on top of real-time tender activity.