NTPC has invited bids to set up 1,500 MW of interstate transmission system (ISTS)-connected solar power projects (Tranche-I) across India.

The minimum capacity of each project must be 50 MW, and the maximum capacity to be quoted by a bidder should not exceed 750 MW.

The last date to submit the bids online is October 27, 2023. Bids will be opened on the same day.

Bidders will have to pay as a bid processing fee ₹300,000 (~$3,603) + GST for a quoted capacity of up to 50 MW, ₹500,000 (~$6,005) + GST for capacity above 50 MW and up to 100 MW, ₹1 million (~$12,011) + GST for capacity above 100 MW and up to 250 MW, ₹2 million (~$24,021) for capacity above 250 MW and up to 500 MW, and ₹3 million (~$36,032) + GST for capacity above 500 MW.

Bidders must submit ₹1.166 million (~$14,004)/MW of the quoted capacity as an earnest money deposit.

The successful bidder must furnish an amount equivalent to ₹2.8 million (~$33,629)/MW of the allotted capacity for each project as a performance bank guarantee within 70 days from the letter of award or before signing the power purchase agreement (PPA), whichever is earlier.

The net worth of bidders should be at least ₹11.58 million (~$139,083)/MW of the quoted capacity as of the last day of the previous financial year.

The minimum annual turnover of bidders should be at least ₹3.51 million (~$42,157)/MW of the quoted capacity during the last financial year.

Bidders should have internal resource generation capability in the form of profit before depreciation, interest, and taxes for a minimum amount of ₹700,400 (~$8,412)/MW of the quoted capacity as of the last day of the previous financial year.

They should also have an in-principle approval letter from the lending institutions committing a line of credit for a minimum amount of ₹875,500 (~$10,515)/MW of the quoted capacity toward meeting the working capital requirement of the project.

The solar power developer should maintain energy supply to achieve an annual supply corresponding to an annual capacity utilization factor of not less than 80% of the declared value and not more than 120% during the PPA duration of 25 years.

Only commercially established and operational technologies should be used to minimize the technology risk and achieve timely commencement of power supply from the projects. NTPC has mandated the use of solar modules from the Approved List of Models and Manufacturers issued by the Ministry of New and Renewable Energy.

Recently, NTPC invited bids to set up 1,500 MW of ISTS-connected wind-solar hybrid power projects anywhere in India.

Earlier, NTPC had invited bids for the implementation of a 120 MW ground-mounted and a 56 MW floating solar project at NTPC Ramagundam Super Thermal Power Plant in Telangana.

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