MSEB Solar Agro Power (MSAPL), a wholly owned subsidiary of Maharashtra State Electricity Board (MSEB Holding Company), has floated 14 tenders to procure a cumulative capacity of 3,048 MW solar power under Component C of Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) program for feeder-level solarization.

The last date for the submission of bids is February 27, 2024. Bids will be opened on the same day.

The projects will be developed under Phase 2 of the Mukhyamantri Saur Krushi Vahini Yojana program. Their allocated capacities and locations are as follows:

An individual project under the tender must comprise a cluster of units, and the cumulative capacity of a project bid should be a minimum of 50 MW.

The successful bidder is tasked with obtaining funding and overseeing the entire lifecycle of the units, including development, design, engineering, procurement, construction, commissioning, operation, and maintenance.

Bidders must agree to a maximum tariff of ₹3.10 ($0.037)/kWh at both the unit and project levels.

They must provide a processing fee of ₹2,500 ($30)/MW and a document cost of ₹25,000 ($300). An earnest money deposit of ₹100,000 ($1,203)/MW of the quoted capacity must also be submitted.

Selected bidders must furnish a performance bank guarantee of ₹500,000 (~$6,015)/MW of the quoted capacity. If new substations eligible for interconnection at 11 kV / 22 kV / 33 kV voltage level are identified in the allotted region by the Maharashtra State Electricity Distribution Company (MSEDCL) before the bid due date, an additional 57 MW of solar power may be purchased.

Bidders must demonstrate a commissioned or operational solar capacity of at least 250 MW for quoted capacities exceeding 200 MW and a requirement of 100 MW for capacities below 200 MW. They should exhibit a positive net worth of ₹10 million (~$120,302) over the last three financial years.

They must have a minimum annual turnover of ₹2.5 million ($30,076)/MW during 2022-2023 and possess internal resource generation capability equivalent to ₹1 million ($12,030)/MW, calculated as profit before depreciation, interest, and taxes.

Foreign investment funds are eligible if their asset under management is valued at least ₹10 billion ($120.3 million) and they have minimum investible funds of ₹5 billion ($60.15 million).

MSEB Solar Agro Power had also invited bids to procure 366 MW of solar power under Component C of the PM KUSUM program.

Subscribe to Mercom’s India Solar Tender Tracker to stay on top of real-time tender activity.