SJVN, a joint venture between the Government of India and the Government of Himachal Pradesh, has invited bids from developers to set up 1,500 MW Inter-State Transmission system (ISTS)-connected solar power projects in India.

The last day to submit the bids is December 15, 2023. Bids will be opened on December 20.

Bidders must submit ₹1.5 million (~$18,023) for each project as the bid processing fee. They must also submit an earnest money deposit of ₹1.16 million (~$13,938) /MW.

Selected bidders must furnish ₹2.9 million (~$34,845)/MW as a performance bank guarantee. They must also submit a success charge of ₹100,000 (~$1,201)/MW.

As part of the payment security mechanism (PSM), selected developers must undertake to pay PSM charges at ₹0.02 (~0.00024)/kWh to SJVN by offering a commensurate discount in the monthly tariff payment being made by SJVN.

Bidders must offer a project capacity between 50 MW and 750 MW. However, for projects located in northeastern states and special category regions, the minimum capacity can be 30 MW.

The responsibility for acquiring the necessary land for the project rests entirely with the renewable project developer.

Bidders from countries sharing a land border with India are eligible to participate in this tender only if registered with the competent authority.

To minimize technological risk and ensure timely commissioning, only commercially established and operational technologies should be employed for these projects.

Bidders must have a net worth equal to or exceeding ₹11.6 million ($139,378)/ MW during the financial year immediately preceding the bid submission. A minimum annual turnover of ₹17.4 million ($209,067) per MW during the last financial year is mandated.

The bidders’ internal resource generation capability, represented by profit before depreciation, interest, taxes, and amortization, should amount to at least ₹3.48 million (~$41,813)/ MW during the previous financial year.

Bidders must possess an in-principle sanction letter from lending institutions, committing a line of credit for a minimum amount of ₹7.25 million (~$87,123)/ MW to fulfill the project’s working capital needs.

SJVN has mandated the use of solar modules listed in the Approved List of Models and Manufacturers issued by the Ministry of New and Renewable Energy.

In September, SJVN invited bids from developers to set up 1,500 MW ISTS-connected wind-solar hybrid power projects in India.

Subscribe to Mercom’s India Solar Tender Tracker to stay on top of tender activity in real-time.