The Punjab State Power Corporation (PSPCL) has invited bids to procure 1,000 MW of firm and dispatchable renewable energy on a demand-following basis.

The last date for the submission of bids is January 10, 2025. Bids will be opened on January 14.

Bidders must submit a processing fee of ₹300,000 (~$3,540) plus 18% GST and earnest money deposit of ₹1.5 million (~$17,699)/MW.

The projects, which can be set up anywhere in India, must have a minimum bid capacity of 50 MW and a maximum of 500 MW, with bids required to be submitted in multiples of 10 MW.

The power purchase agreement for the selected projects will have a tenure of 25 years.

The projects must include energy storage systems. They must be designed for interconnection with the interstate transmission system at 220 kV or above voltage level.

The voltage level can be as per state regulations for projects connecting to the state transmission utility in Punjab.

The renewable energy component must be sized to meet 100% of PSPCL’s firm and dispatchable power supply requirements.

The net worth of the bidders must be at least ₹10 million (~$118,003) per MW. This financial criterion should be met as of the last date of the previous financial year (FY 2023-24) or as of a date no more than seven days before the bid submission deadline.

Bidders must have a minimum annual turnover of ₹5 million (~$59,001) per MW of the contracted capacity, either during the previous financial year or as of a date no more than seven days before the bid submission deadline.

In August, Punjab Energy Development Authority issued a request for selection to develop 264 MW of solar projects to solarize 75,000 grid-connected pumps under Component-C of the PM-KUSUM program.

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