Greenko Seeks EPC Contractors for a 1,260 MW Pumped Hydro Storage Project in Karnataka

Greenko Solar Energy Private Limited has invited bids for the installation of electro-mechanical equipment from the main inlet valve to a 400 kV gas-insulated switchgear at one of its project sites in Karnataka.

This project is located at Saundatti, Belagavi district, in Karnataka. The project will be developed on a turnkey basis.

This engineering procurement construction (EPC) tender covers the complete electro-mechanical work for Greenko’s integrated renewable energy project comprising a 1,260 MW pumped storage project.

Greenko is constructing two integrated renewable energy storage projects in Andhra Pradesh, and Karnataka with a total pumped storage capacity of 2,460 MW. These projects are expected to harness the power of solar and wind resources with digitally connected storage infrastructure to provide scheduled and flexible power to the grid.


Interested bidders must pay a sum of ₹100 million (~$1.4 million) as the earnest money deposit (EMD). The last date for the submission of bids is March 27, 2020, while a pre-bid meeting has been scheduled for February 24, 2020.

As far as the eligibility criteria are concerned, the bidder can be a manufacturer, joint venture, or consortium, having experience in the execution of large hydropower projects specifically in hydro pumped storage projects or lift irrigation projects.

According to Greenko Group, the bidder or lead member must have an average annual financial turnover of at least ₹12 billion (~$169 million) during the last three consecutive financial years. In the case of a joint venture, the lead member should have a minimum annual financial turnover of not less than ₹7 billion (~$98.16 million) during the last three consecutive years.

The scope of work includes the detailed design of the entire electro-mechanical equipment, engineering drawings, and bill of materials. It also involves successful model testing, complete manufacturing of all the equipment required for the project along with transportation to the project site.

Bidders have been asked to quote a “firm and fixed” price for the entire scope of supply, erection, testing, and commissioning, including the equipment’s performance guarantee test.

After receiving $495 million (~₹33.92 billion) as primary equity from General Insurance Corporation and Abu Dhabi Investment Authority, last year, Greenko Energy Holdings also secured another $329 million (~₹22.55 billion) of funding from the two investors.

The renewable energy project developer secured a total equity commitment of $824 million (~₹56.34 billion) from its existing shareholders, according to the company’s statement issued in July 2019.

The company had also informed that the new capital was to be used to fund its business plan, which included the CAPEX of Integrated Renewable Energy Project (under which this tender has been issued) and other opportunistic and valuable acquisitions.

In January 2020, Mercom reported that Greenko Group, along with ReNew Power, won the auction conducted by the Solar Energy Corporation of India (SECI) for 1.2 GW of solar, wind, and energy storage projects with guaranteed peak power supply.

Previously, Greenko signed an agreement with Siemens Financial Services for 46% equity investment in its 200 MW Poovani wind power project in Tamil Nadu.