Navi Mumbai Municipal Corporation (NMMC) has invited bids to develop a 100 MW floating solar project and a 1.5 MW hydroelectric project at Morbe Dam in the Raigad district of Maharashtra.

The last day to submit the bids is April 2, 2024. Bids will be opened on the next day.

Bidders must furnish an earnest money deposit of ₹25 million (~$300,128).

The selected bidder must submit ₹325 million (~$3.9 million) as performance security.

The declared capacity utilization factor for the floating solar project should not be less than 19% annually and not more than 30% for the hydroelectric project.

The floating solar project will be implemented in 60 MW and 40 MW phases.

The required electricity generation per annum will be 10.80 million units (MU) from hydroelectric projects and 208.8 MU (125.28 MU Phase 1 and 83.52 MU Phase 2) from the floating solar project.

The projects must achieve financial closure within 210 days from the power purchase agreement’s signing date.

The hydroelectric project’s commercial operation date (CoD) should be 18 months from the date of financial closure. The CoD for Phase 1 of the floating solar project should be within 12 months from the date of financial closure. The CoD for Phase 2 of the floating solar project should be 12 months from the CoD of Phase 1 or 12 months from the order for the next phase issued by NMMC, whichever is earlier.

Bidders should have completed at least three projects, each with a minimum capacity of 40 MW, at least two projects, each with a minimum capacity of 50 MW, or one project with a minimum capacity of 80 MW for government, public sector or private sector organizations during last ten years.

Bidders who have completed a single project with a total capacity of 100 MW, including multiple packages, phases, contracts, or agreements, at one location can also participate.

They should have a net worth equal to or greater than ₹1.65 billion (~$19.8 million) as of March 31, 2023.

Modules used should be included in the Ministry of New and Renewable Energy’s Approved List of Models and Manufacturers.

In December, THDC India invited bids from consultants and expert agencies to create a feasibility report to set up floating solar power projects on reservoirs in Maharashtra.

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