The Calcutta Electric Supply Corporation (CESC) has issued a request for the selection of developers for the long-term procurement of power from 150 MW interstate transmission system (ISTS)-connected solar power projects in India with a greenshoe option up to 150 MW.

The scope of work covers identifying land for project installation and ownership, interconnecting with the ISTS network to supply power to CESC, and obtaining approvals and connectivity.

The bidders will sign a power purchase agreement (PPA) for 25 years within 30 days from the issuance date of the letter of award.

The last date to submit the bids is August 19, 2024. Bids will be opened on August 20.

Bidders must pay a non-refundable document fee of ₹29,500 (~$352.31) and a bid processing fee of ₹500,000 (~$5,971).

They must furnish a performance bank guarantee of ₹4 million (~$47,771.28) per MW before signing the PPA. They must also pay an earnest money deposit of ₹2 million (~$23,885) per MW per project.

Bidders who have commissioned or are constructing solar projects and have untied capacity may participate. Such bidders may be given a longer period of PPA, equal to the duration between the actual date of supply of power and the scheduled commencement of supply. Those who have signed PPAs with renewable energy implementing agencies identified by the MNRE and/or with any distribution company as of the bid submission deadline are not allowed to suo motu terminate such PPAs.

The greenshoe option of 150 MW will be offered to the successful bidder(s) who execute the PPA(s) with CESC at the lowest tariff.

The net worth of the bidders should be equal to or greater than ₹20 million (~$238,852) per MW of the quoted capacity as of the last date of the financial year (FY) 2022-23 or as on the day at least seven days before the bid submission deadline.

They are also required to fulfill the following parameters:

• A minimum annual turnover of ₹20 million (~$238,852) per MW of the quoted capacity during the FY 2022-23 or on the day at least seven days before the bid submission deadline.
• Internal resource generation capability, in the form of Profit After Tax plus Depreciation, excluding other and exceptional income for a minimum of ₹5 million (~$89,567) per MW of the quoted capacity, as on the last date of FY 2022-23, or as on the day at least seven days before the bid submission deadline

Earlier this month, NTPC Vidyut Vyapar Nigam invited bids to develop ground-mounted and rooftop solar photovoltaic projects with a total capacity of 12.82 MW across multiple locations in India.