POWERGRID Energy Services (PESL), a wholly-owned subsidiary of Power Grid Corporation of India (POWERGRID), has invited bids for installing and commissioning an 85 MW solar power project at Nagda in the Ujjain district of Madhya Pradesh.

The successful bidder will also undertake the project’s operation and maintenance (O&M) for five years after successfully completing the trial run post-commissioning.

The last date to submit the bids online is April 28, 2023. Bids will be opened on May 2.

The successful bidder will have to furnish an amount equivalent to 10% of the contract value as a performance security within 28 days after the receipt of the notification of award.

PESL has engaged NTPC as a consultant to provide consultancy support for this project.

Bidders must have designed, supplied, erected, and commissioned, as a prime contractor, grid-connected solar power projects of a cumulative installed capacity of 40 MW or higher, out of which at least one project should have been of 10 MW or higher capacity. The reference project of 10 MW or higher capacity should have been operational for at least six months as of the bid opening date.

The reference grid-connected solar power project of 10 MW or above capacity should be at a single location developed by the bidder for themselves or any other client. Rooftop and grid-connected floating solar projects will also be considered eligible for qualification.

The net worth of bidders for the last three financial years should be positive.

Further, the minimum average annual turnover of bidders for three of the last five financial years should be at least ₹2 billion (~$24.39 million).

Additionally, bidders should have liquid assets and evidence of access to or availability of credit facilities, not less than ₹1.04 billion (~$12.69 million).

According to tender documents, only monocrystalline solar modules should be used for the project, and the peak power rating of modules should not be less than 400 Wp. The efficiency of modules should be at least 18% under standard testing conditions.

Recently, POWERGRID said it would raise unsecured, non-convertible, non-cumulative, redeemable, and taxable bonds worth ₹6 billion (~$72.86 million) through private placement.

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