Rewa Ultra Mega Solar (RUMSL), a joint venture of the Madhya Pradesh Urja Vikas Nigam (MPUVNL)and Solar Energy Corporation of India (SECI), has issued a request for proposal to select a developer for 13.8 GW of pumped hydro storage projects across different sites in the state.

The last date to submit the bids is June 7, 2023, and they will be opened on the same day.

The bidding document is priced at ₹295,000 (~$3563).

The successful bidder must submit a bid security of ₹1 million (~$12,079).

The project development fee payable for each site is ₹25,000 (~$302)/ MW of the estimated capacity.

The bidder must furnish a performance bank guarantee of ₹200,000 (~$2415.5)/MW.

Bidders are required to quote pumped hydro storage charges of more than ₹0.10 (~$0.0012) per unit.

The minimum net worth of the bidder must be ₹13 million (~$157,016) per MW of the indicated capacity during the last three financial years.

The bidder must have experience of executing or operating a power generation project of capacity equivalent to 25% of the total estimated potential of the site under the bid or 500 MW— whichever is lower, in the last 10 years.

In a condition where two or more bidders quote the highest charges for a site, the one quoting the highest capacity in MW for the particular site will be selected.

Technical experience in terms of prior execution of power generation projects will also be considered for selection.

The tender document said that Madhya Pradesh has a significant potential of 11.2 GW for pumped hydro storage projects, which can be further increased by developing off-river closed-loop pumped storage projects and retrofitting existing hydropower projects.

Earlier in this month, the state released guidelines to promote the development of pumped hydro storage projects in the region. These guidelines clarify the methods for allotment of project sites, tax waivers, and project completion timelines.

Also in January, Greenko Group said it will invest ₹100 billion (~$1.2 billion) in setting up a pumped storage project in the Neemuch district of Madhya Pradesh. The company said the daily storage capacity of the pumped hydro storage would be 11 GWh.