Grid Corporation of Odisha (GRIDCO) has invited bids for the development of a 225 MW floating solar power project at the Upper Indravati Reservoir, part of the Upper Indravati Solar Park in Odisha.

The total planned capacity of the project is 225 MW, structured as three independent units of 75 MW each, to be developed at the designated water body within the Upper Indravati Solar Park.

Bids must be submitted by April 27, 2025. Bids will be opened on April 28.

Bidders must submit an earnest money deposit of ₹85.3 million (~$1.03 million) for 75 MW capacity and ₹170.6 million (~$2.06 million) for 150 MW capacity, and a tender document fee of ₹50,000 (~$600), exclusive of applicable taxes.

Successful bidders must submit a performance bank guarantee of ₹213.2 million (~$2.57 million) for 75 MW and ₹426.4 million (~$5.14 million) for 150 MW.

The scope of work includes the design, development, financing, installation, operation, and maintenance of the floating solar facilities. RIDCO, along with the Government of Odisha and Odisha Power Transmission Corporation, will provide the required water area and near-shore land for the project.

Power evacuation is planned through a 33/220 kV pooling substation, with connectivity further established via a 220 kV double-circuit transmission line linked to the 220/400 kV Upper Indravati Hydro Electric Project switchyard.

Bidders must have experience in developing or executing engineering, procurement, and construction contracts for at least one renewable energy project with a minimum capacity of 50 MW that was commissioned within the last five years.

Bidders must have a minimum net worth of ₹852.9 million (~$10.28 million) to bid for 75 MW or ₹1.71 billion (~$20.55 million) to bid for 150 MW.

The power purchase agreement tenor for the project is 25 years, calculated from each unit’s scheduled commercial operation date. The operation and maintenance obligation will extend throughout the PPA term.

Compliance with the Approved List of Models and Manufacturers for solar modules and solar cells used in the project is mandatory.

Recently, GRIDCO invited bids to allocate water-surface areas at the Rengali Reservoir in Odisha for setting up floating solar projects for captive use.

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