Rewa Ultra Mega Solar Limited (RUMSL), on behalf of Madhya Pradesh Power Management Company (MPPMCL), has issued a request for proposal (RfP) for the development of 750 MW grid-connected wind-solar hybrid power projects in Madhya Pradesh.
The minimum capacity the bidders can bid for is 15 MW, and the maximum is 750 MW. Solar and wind components of the hybrid power project may be located at the same or different locations. However, the minimum project capacity at one location must be 15 MW.
The rated contracted capacity of the solar component must be between 33% and 36% of each project’s total capacity.
The successful bidder must sign a power purchase agreement (PPA) with MPPMCL for 25 years.
The last day to submit the bids is June 1, 2022. The bids will be opened the next day.
The cost of the bid documents is ₹25,000 (~$329). Bidders must also submit a bid processing fee of ₹100,000 (~$1,316) for projects of 15 MW to 50 MW and ₹200,000 (~$2,632) for projects above 50 MW. Bidders must furnish bid security of ₹1.15 million (~$15,132)/MW.
The successful bidder must submit a performance bank guarantee (PBG) of ₹1.73 million (~$22,764)/MW at least seven days before the signing of the PPA. For delay up to one month from the due date of submission of PBG, liquidity charges of 1% of PBG will be levied on a per-day basis.
Successful bidders must pay ₹40,000 (~$526)/MW/allocated capacity as success charges. Any delay in depositing the said amount to RUMSL within the stipulated time will attract late payment charges at the rate of 18% per annum, levied on a per-day basis, until the success charges are paid. The successful bidders must also pay ₹500,000 (~$6,579)/MW/allocated capacity as payment security fund within three months of the scheduled commercial operation day.
The bidders must have a net worth of ₹11.50 million (~$151,332)/MW in the last three financial years ending March 31, 2021, or March 31, 2022. Bidders must also submit a net worth certificate as of March 31, 2021, or at least seven days before the due date of bid submission.
The bidders must have a minimum annual turnover of ₹6.15 million (~$80,905)/MW of the quoted capacity in the financial year ending March 31, 2021, or at least seven days before the due date of bid submission.
The bidders must have an internal resource generation capability in the form of Profit Before Depreciation Interest and Taxes (PBDIT) for a minimum of ₹1.23 million (~$16,181)/MW of the quoted capacity in the financial year ending March 31, 2021.
The bidders must have an in-principle approval letter from the lending institutions committing a line of credit for a minimum amount of ₹1.54 million (~$20,259)/MW of the quoted capacity towards meeting the working capital requirement of the project quoted under this RfP.
The project must be designed to deliver energy at Madhya Pradesh Power Transmission Company Limited’s (MPPTCL) sub-station. The bidders will be responsible for procuring grid connectivity with MPPTCL. Bidders must also make necessary arrangements for evacuation and injection of surplus power into the grid at the interconnection points as agreed with DISCOMs. The successful bidder will bear the entire cost of a dedicated line, including the cost of construction, maintenance, and losses from the project up to the delivery point.
Last November, RUMSL had invited bids to develop a 600 MW floating solar park at the Omkareshwar reservoir in Madhya Pradesh.
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Arjun Joshi is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. More articles from Arjun Joshi.