Project Finance Brief: Opdenergy Secures Financing for 605 MW of Solar Projects in Spain

Listen to this article

Karnataka Cooperative Milk Producers’ Federation (KMF) has invited bids for installing and commissioning 100 MW of solar power projects under the group captive model for KMF and its other member unions.

The successful bidder will also have to take care of the operation and maintenance of the project for 25 years.

The total project cost is estimated at ₹3.92 billion (~$49.03 million).

The last date to submit the bids is August 16, 2022. Bids will be opened on August 18.



Bidders will have to submit ₹43.1 million (~$539,047) as an earnest money deposit.

The successful bidder should furnish an amount equivalent to 7.8% of the contract value as a security deposit within 20 days from the receipt of the letter of acceptance.

The base price of electricity, including transmission charges and electricity cess, has been set as ₹3.85 (~$0.048)/kWh.

The base capacity of the power project is about 100 MW to ensure that after deducting all electricity charges (wheeling & banking charges and transmission losses), KMF and its member milk unions can draw 132.22 MU annually from the proposed group captive solar project.

The capacity-wise distribution of the solar projects across different unions is given below:

KMF Final-Updated

Additionally, the tariff quoted by the bidder should ensure that the group captive solar power project is bankable.

As a prime developer, the bidder should have completed a solar project of at least 80 MW capacity. The bidder should have executed one similar work of value not less than ₹1.98 billion (~$24.77 million) in the last five years.

The bidder should possess the required super-graded electrical contractor license to execute electrification work and have executed one electrical work of value not less than ₹1.4 billion (~$17.51 million)in the last five years.

The bidder should also possess a valid PWD Class-I contractor license for executing civil engineering works and should have executed one work of value not less than ₹375 million (~$4.69 million) in the last five years.

The bidder should have an average annual turnover of at least ₹7.84 billion (~$98.07 million) in any two of the last five years.

The net worth of the bidder should be at least ₹870 million (~$10.88 million). Also, the bidder should have a letter of comfort from the lending institutions stating the developer would have access to debt financing amounting to ₹2.03 billion (~$25.39 million).

Recently, Banaskantha District Co-operative Milk Producers’ Union invited bids for the design, manufacture, supply, installation, and commissioning of a 1 MW rooftop solar system at its facility in the Sanadar village of Gujarat on a turnkey basis.

Earlier, Sabarkantha District Cooperative Milk Producers’ Union had invited bids for the design, engineering, procurement, supply, construction, and commissioning of a 1 MW grid-connected rooftop solar system at its facility in Himmatnagar, Gujarat.

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