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The Maharashtra State Electricity Distribution Company (MSEDCL) has invited bids to procure 500 MW of power from decentralized solar projects under Component C of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) program.
The projects will be developed under the renewable energy service company (RESCO) model.
The last date to submit the bids online is February 13, 2023.
MSEDCL has set a ceiling tariff of ₹3.10 (~$0.038)/kWh for the tender.
Bidders will have to submit ₹10,000 (~$122.45)/MW + 18% GST as the bid processing fee. They must also submit ₹100,000 (~$1,225)/MW per project as an earnest money deposit.
The successful bidder will have to furnish ₹500,000 (~$6,112)/MW two days before signing the power purchase agreement (PPA) as a performance bank guarantee.
MSEDCL will enter into a PPA with the selected bidders for the purchase of solar power for 25 years from the commercial operation date of the projects.
Only commercially established and operational technologies can be used for the projects, to minimize the technology risk and to achieve timely commissioning.
Indigenously manufactured solar modules from the Approved List of Models and Manufacturers issued by the Ministry of New and Renewable Energy must be used in the project.
Projects under construction, projects which are not yet commissioned, and projects commissioned but do not have any long-term PPA with any agency and sell power on a short-term basis will not be eligible.
The net worth of bidders for the last financial year should not be less than ₹10 million (~$122,448)/MW of the quoted capacity.
They should have a minimum annual turnover of ₹2.5 million (~$30,612)/MW of the quoted capacity during the previous financial year.
Additionally, bidders should have an internal resource generation capability in the form of profit before depreciation, interest, and taxes for a minimum of ₹1 million (~$12,245)/MW of the quoted capacity as of the last day of the previous financial year.
They should also have approval from lending institutions for a Line of Credit for a minimum amount of ₹1.25 million (~$15,306)/MW of the quoted capacity toward meeting the working capital requirement.
The project should be designed for the delivery of energy at the 11/22 kV level substation of MSEDCL. The transmission of power up to the interconnection point and energy accounting infrastructure will be the responsibility of the successful bidder.
The declared capacity utilization factor (CUF) should in no case be less than 19% over a year. The successful bidder must maintain generation to achieve CUF in the range of ±10 % of the declared value during the PPA tenure.
Central financial assistance of 30% of the project cost will be provided by the central government to MSEDCL.
Recently, MSEDCL invited bids to procure 300 MW of solar power from decentralized solar projects with a capacity range of 500 kW to 2 MW under Component A of the PM-KUSUM program.
According to Mercom’s India Solar Tender Tracker, MSEDCL has so far floated tenders for 3.9 GW of solar projects under the PM-KUSUM program.