The Meghalaya Power Generation Corporation Limited (MePGCL) has floated a tender to select developers for 20 MW of grid-connected solar power projects at the Thamar and Suchen solar parks in the state.
Interested bidders are expected to pay an earnest money deposit (EMD) of ₹400,000 (~$5,400)/MW in the form of a bank guarantee. The last date for the submission of bids is December 17, 2020. The tender was issued with a ceiling tariff of ₹4 (~$0.054)/kWh for 25 years.
The solar power developer is expected to set up the solar project, including the transmission network, up to the delivery point at their own expense. They are also required to obtain all approvals, permits, and clearances required for the projects.
The project is expected to be technology agnostic within PV technology. The projects must achieve financial closure within seven months from the effective date of the power purchase agreement (PPA). The modules should have a warranty for at least ten years.
The tender documents said that there are four plots of 5 MW each with a total capacity of 20 MW across the site (10 MW at each site). Bidders are allowed to submit a single bid for all four plots. The declared annual capacity utilization factor (CUF) should not be less than 17%.
To be eligible to participate in the competitive bidding process, applicants must have a net worth of at least ₹10.7 million (~$144,440)/MW of the quoted capacity. They must have had a minimum annual turnover of ₹5 million (~$67,496)/MW of the quoted capacity in the previous financial year and a profit before depreciation, interest, and taxes (PBDIT) of ₹1 million (~$13,499)/MW as on the last date of the previous financial year.
According to Mercom’s India Solar Tender Tracker, Meghalaya has so far issued tenders for 23 MW of solar projects under various programs in the state. Of late, the state has released several tenders for solar expansion.
Recently, the Meghalaya Power Distribution Corporation also invited bids to develop 50 MW off-grid rooftop solar power projects at various locations in the state.
Before that, the state floated a tender to empanel developers for 10 MW of residential grid-connected solar rooftop projects in the state under the second phase of the rooftop solar program.
Nithin Thomas is a staff reporter at Mercom India. Previously with Reuters News, he has covered oil, metals and agricultural commodity markets across global markets. He has also covered refinery and pipeline explosions, oil and gas leaks, Atlantic region hurricane developments, and other natural disasters. Nithin holds a Masters Degree in Applied Economics from Christ University, Bangalore and a Bachelor’s Degree in Commerce from Loyola College, Chennai. More articles from Nithin.