The Maharashtra State Electricity Distribution Co. Ltd (MSEDCL) has invited bids to develop 88 MW of solar projects in the Nagpur region of Maharashtra.

The last date to submit the bid is May 8, 2023. Bids will open on the same day.

MSEDCL has set a ceiling tariff of ₹3.20 (~$0.03)/kWh.

Bidders must furnish an earnest money deposit of ₹100,000 (~$1,222)/MW. It will be valid for 6 months from the last date of bid submission.

Successful bidders must remit a performance bank guarantee of ₹500,000 (~$6,109)/MW within 30 days from the date of the work order, which would be valid for 14 months from the effective date.

The bidders must obtain all the necessary permits and clearances required to establish the solar power projects.

They should have a net worth of ₹5.5 million (~$67,199)/MW as of the last day of the preceding financial year. Their net minimum annual turnover should be ₹2.5 million (~$30,544)/MW.

To fulfill the working capital requirement, it is necessary for bidders to have a written approval letter from a bank willing to provide a credit line of ₹1.25 million (~$15,272)/MW.

Within a month of the Letter of Award (LoA), a single Power Purchase Agreement (PPA) for 88 MW will be signed between the selected bidder and MSEDCL.

The PPA will remain valid for 25 years from the commercial operation date of the projects.

The project should be designed to deliver energy at 11 / 22 kV level of the substation of MSEDCL.

The winning bidder is responsible for arranging for grid connectivity with MSEDCL. The bidder must provide proof of securing the grid connection from MSEDCL within 6 months of the effective date.

The successful bidder will be responsible for transmitting power up to the interconnection point and setting up the necessary infrastructure for energy accounting at their own expense. The bidder will maintain the transmission and distribution system up to the interconnection point.

MSEDCL had earlier invited bids to procure 300 MW of solar power from decentralized solar projects under Component A of the PM-KUSUM program.

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