The Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) has invited bids for the setting up of 75 MW of grid-connected solar power projects at the UP Solar Park in Uttar Pradesh.
The projects will be developed on a build, own, and operate basis. They will be developed at Makrechaa and Banghauli villages (45 MW) and Tikar village (30 MW) in the Jalaun district.
The ceiling tariff has been fixed as ₹3 (~$0.041)/kWh for 25 years.
The last date to submit the bids is April 7, 2021. The project should be commissioned within 15 months from signing the power purchase agreement (PPA).
The successful bidder will have to submit ₹1.05 million (~$14,460)/MW as a performance bank guarantee within 30 days from the issuance of the letter of intent or before the signing of the power purchase agreement, whichever is earlier. The performance bank guarantee should be initially valid for six months after the scheduled delivery date.
The successful bidder can also execute the project through a special purpose vehicle (SPV), with at least 76% shareholding in the SPV.
The cells and modules used in the project should be sourced only from the models and manufacturers included in the ‘Approved List of Models and Manufacturers’ as published by the Ministry of New and Renewable Energy (MNRE) and updated as on the date of commissioning of the project.
Bidders should only use commercially established and operational technologies to minimize risk and achieve timely commissioning. They should indicate the selection of technology and its details when submitting the bids.
Bidders should have a net worth equal to or greater than ₹7 million (~$96,403)/MW of the quoted capacity as of the last date of the previous financial year.
The capacity utilization factor (CUF) should remain unchanged for the entire term of the PPA. The declared annual CUF should in no case be less than 17%.
Earlier, UPNEDA floated a request for selection for solar power developers to set up 275 MW of grid-connected solar power projects in the state’s solar park. The projects are to be set up at five locations across the Jalaun and Kanpur Dehat districts.
According to Mercom’s India Solar Tender Tracker, UPNEDA has floated 4.55 GW of utility-scale project tenders as of December 2020.
Mercom’s premium event Mercom India Solar Summit, to be held virtually on April 8 and 9, has an exclusive session on ‘Tenders and Auctions – From Pipeline to PPAs, How We Get There.’ You can click here to register for the event.
Rakesh 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). More articles from Rakesh Ranjan.