SJVN Limited has issued a notice inviting expressions of interest (EoI) from interested parties to offer their solar and hydropower projects for acquisition by SJVN.
Power generation companies, power project developers, IPPs, state electricity boards, and lenders owning hydro or solar power projects which are operational or under development in various Indian states are eligible for offering their projects for possible acquisition by SJVN.
SJVN is a joint venture of the government of India and the state government of Himachal Pradesh. The last date for the submission of bids is August 31, 2020, and the opening of bids will take place on September 01, 2020.
To increase its geostrategic reach, SJVN is planning to acquire hydro and solar power projects in Indian states under various stages of operation & maintenance (O&M), construction, and survey & investigation.
According to the company, SJVN diversified into solar power generation with commissioning of its first project in Charanka Solar Park, Gujarat. The 5 MW project was commissioned on March 31, 2017.
SJVN will select the parties based on preliminary technical and financial data submitted by the bidders. Accordingly, projects will be shortlisted for carrying out due diligence for a possible acquisition.
Similarly, NTPC Limited has floated a request for proposal to acquire 1 GW of operational solar projects across India. Promoters, lenders, authorized financial intermediaries of power generation companies, independent power producers, and developers can participate in this tender. The last date for the submission of the bids is September 22, 2020.
Recently, SJVN invited bids for the development of a 100 MW (AC) solar power project at Dholera solar park (Phase IX) in Gujarat. For this, SJVN intends to enter into a power purchase agreement with Gujarat Urja Vikas Nigam Limited in response to the tender that was reissued in March.
Earlier, SJVN also issued a tender to empanel experienced solar engineering, procurement, and construction companies.