The Punjab State Power Corporation (PSPCL) has issued a tender for procuring 250 MW of power from grid-connected solar projects for 25 years.

Bids must be submitted by May 20, 2026. Bids will be opened on May 22.

Bidders must furnish an earnest money deposit of ₹1 million (~$10,556.35)/MW, a bid processing fee of ₹300,000 (~$3,166.91) plus 18% GST, and a document fee of ₹25,000 (~$263.91) plus 18% GST.

Bidders must quote a minimum capacity of 50 MW. They can quote a maximum capacity of 125 MW.

Selected bidders must submit a performance guarantee of ₹2.4 million (~$25,335.24)/MW.

The scope of work entails setting up solar projects anywhere in Punjab and transmission networks up to the delivery point. It also entails providing operation and maintenance services for 25 years.

Successful bidders must obtain the approvals, permits, and clearances for the solar projects from central/state government agencies and local bodies.

They must provide solar-grade cables and connectors for the projects that can operate in harsh conditions for 25 years.

The tender is technology agnostic. Projects can use crystalline silicon or thin-film modules, with or without trackers. The solar modules must be warranted to deliver at least 90% of their output after 10 years and 80% after 25 years. Each solar module must have RFID-based identification and traceability.

Solar modules and inverters must comply with IEC/BIS standards.

The projects must have performance-monitoring equipment for solar radiation, temperature, wind speed, and DC/AC generation.

The solar projects must start supplying power within 24 months.

Delays in power supply beyond the scheduled commencement date will result in daily encashment of the performance guarantee for up to six months, proportional to the uncommissioned capacity. Power purchase agreements for the uncommissioned capacity will be terminated if the delays exceed six months.

Bidders must have a minimum net worth of ₹1 billion (~$10.55 million) as of the last financial year or at least seven days before the bid submission deadline.

Bidders must meet any of the following requirements:

• They must have a minimum annual turnover of ₹5 million (~$52,781.75)/MW of the quoted capacity during the previous financial year
• They must demonstrate a minimum profit before depreciation, interest, and taxes of ₹1 million (~$10,556.35)/MW of the quoted capacity, as on the last date of the previous financial year
• They must provide an in-principle approval letter from their banks/lending institutions for a line of credit for at least ₹1.25 million (~$13,195.44)/MW of the quoted capacity towards meeting the solar project’s working capital requirement

Recently, SAEL Industries, Waaree Forever Energies (a subsidiary of Waaree Energies), MB Power (Madhya Pradesh) (a subsidiary of Hindustan Power), and JLTM Energy India (a subsidiary of Technique Solaire) won PSPCL’s auction to procure 500 MW of solar power from projects located anywhere in the country on a long-term basis.

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