State Bank of India (SBI) is inviting bids from public sector undertakings (PSU) to provide consultancy services for a 2 MW grid-connected solar project in Mahindra World City in Jaipur.

The project will be built on SBI’s vacant land in the city. The electricity generated will be directly fed into the grid, and the credit for the green energy will be claimed against the bank’s various premises.

The last date to submit the bids is December 5, 2022. The bids will be opened on December 7.

The scope of work will include preparing a feasibility report, designing the solar project, finalizing technical requirements, preparing the final estimate, and initiating the tendering process.

The consultant must also execute all statutory requirements, net meter installation, and liaison with the power distribution company.

The selected consultant is required to assist the bank in claiming subsidies, discounts, and refunds from the applicable authorities for the solar project.

The PSUs interested in applying for the bid must possess project consultancy experience for a similar project worth ₹80 million (~$979,396), or two similar assignments worth ₹50 million (~$612,122) each, or three similar works of ₹40 million (~$489,698) each during the last seven years.

The bidders should have received an average professional fee above ₹1.2 million (~$14,690) per annum during the last three financial years.

Their average annual turnover during the last three financial years must be a minimum of ₹40 million (~$489,698).

SBI recently signed an agreement with Kreditanstalt für Wiederaufbau to receive a low-interest loan of €150 million (~$154.1 million) to finance solar projects in India. The loan will primarily fund innovative technologies, such as automated dry cleaning of solar modules to reduce water consumption.

Last February, the bank launched a dedicated centralized processing cell in partnership with Tata Power Solar Systems for financing solar projects. The ‘Surya Shakti Cell’ will process all the loan applications for solar projects of up to 1 MW capacity sourced from India. The loans will be for both business entities as well as households.

SBI approved over ₹319.18 billion (~$3.90 billion) in renewable energy project finance in India in the financial year 2020-21. The bank had introduced ‘Renewable Energy Policy,’ incorporating various segments such as ground-mounted solar power, wind energy, grid-connected rooftop solar power, small hydro (up to 25 MW), and waste-to-energy.

According to the bank, it had financed 752 renewable energy projects with a total installed capacity of 13,801.7 MW until March 31, 2021.

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