SJVN has invited bids to select renewable energy developers to supply 600 MW firm and dispatchable power from inter-state transmission system (ISTS)-connected renewable energy projects with energy storage systems under tariff-based competitive bidding.

The tender also has an additional 600 MW greenshoe option.

The last day to submit the bids is May 28, 2024. Bids will be opened on June 3, 2024.

Bidders must furnish a bid processing fee of ₹1.5 million (~$17,984) for each project.

Bidders must submit an earnest money deposit (EMD) based on the total cumulative installed capacity they have committed. The formula for calculating the EMD is as follows:

EMD = [₹928,000 (~$11,126) x rated cumulative installed capacity of solar component (MW) + ₹1.26 million (~$15,107) x rated cumulative installed capacity of wind or other renewables component (MW) + ₹366,000 (~$4,388) x rated cumulative installed capacity of the energy storage system (MWh)].

Successful bidders must also provide a performance bank guarantee (PBG) as a security deposit. The PBG amount will be determined using this formula:

PBG= [₹2.32 million (~$27,818) x rated installed capacity of solar component (MW) + ₹3.16 million (~$37,891) x rated installed capacity of wind component (MW) + ₹915,000 (~$10,971) x energy storage system capacity (MWh)].

Bidders should offer a minimum cumulative contracted capacity of 50 MW and a maximum cumulative contracted capacity of 600 MW. The minimum capacity can be 30 MW for projects in north-eastern and special category states.

The contracted capacity must be quoted in multiples of 10 MW only.

The bidders’ net worth should be at least ₹12.26 million (~$147,008)/ MW of the quoted capacity as of the last date of the previous financial year or on the day at least seven days before the bid submission deadline.

Their minimum annual turnover must be ₹18.39 million (~$220,506) /MW of the quoted capacity during the last three financial years.

Bidders must have an internal resource generation capability in the form of profit before depreciation interest and taxes for a minimum amount of ₹3.67 million (~$44,005)/ MW of the quoted capacity, as on the last date of the previous financial year or as on the day at least seven days before the bid submission deadline.

They must present an in-principle sanction letter from their lending institutions or banks, committing a line of credit for a minimum of ₹7.66 million (~$91,847)/MW of the quoted capacity towards meeting the working capital requirement of the quoted project capacity.

The wind turbines used in the projects must be type-certified models listed in the Revised List of Models and Manufacturers issued by the Ministry of New and Renewable Energy (MNRE).

The solar photovoltaic modules used in the projects must be included in MNRE’s Approved Models and Manufacturers of Solar Photovoltaic Modules.

Recently, Juniper Green Energy, Datta Power Infra, Green Infra Wind Energy (Sembcorp), Energizent Power (O2 Power), Green Prairie Energy (EverGreen Power), and Avaada Energy were declared winners in SJVN’s auction to develop 1.5 GW ISTS-connected wind-solar hybrid power projects in India.

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