Indian Oil Issues Empanelment Tender for Solar Power Projects

Southern Railway Seeks Bids for 1.2 MW Rooftop Solar Projects in Chennai

Husk Secures $4 Million from Electrifi to Scale up Mini Grids in Rural India

Doubling Transmission Capacity of Existing Grid Through Reconductoring: Report

Daily News Wrap-Up: BJP, Congress Bet Big on Renewables in Election Manifestos

As ISTS Waiver Nears End, Developers Need Extension Amid Lack of Substations

Mahindra Susten to Develop 150 MW Open Access Renewable Power Project

BJP, Congress Bet Big on Renewables in 2024 Election Manifestos

Daily News Wrap-Up: REIL Invites Bids for 200,000 Mono PERC Solar Cells

Solar, Storage, Wind Drive 95% of US Interconnection Queues as Backlog Rises


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="http://mercomindia.com/wp-content/uploads/2023/02/amazon_polly_49214.mp3?version=1676033335">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>The <a href="https://imcindore.in/" target="_blank" rel="noopener">Indore Municipal Corporation</a> has raised ₹3.03 billion (~$36.69 million) in green bonds with its ₹2.44 billion (~$29.67 million ) issue being oversubscribed by 1.24 times.</p>
<p>The proceeds from the green bonds issue will be used to fund a 60 MW ground-mounted captive solar photovoltaic project in the Khargone district in Madhya Pradesh.</p>
<p>The green bonds received an enthusiastic response with the issue being oversubscribed in three hours after it opened.</p>
<p style="text-align: center;"><a href="https://mercomindia.com/wp-content/uploads/2023/02/Indore-Municipal-Corporation-Green-Bonds-Updated.png"><img decoding="async" loading="lazy" class="alignnone wp-image-49222 size-full" src="https://mercomindia.com/wp-content/uploads/2023/02/Indore-Municipal-Corporation-Green-Bonds-Updated.png" alt="Indore Municipal Corporation Green Bonds Updated" width="625" height="187" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/02/Indore-Municipal-Corporation-Green-Bonds-Updated.png 625w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/02/Indore-Municipal-Corporation-Green-Bonds-Updated-300x90.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/02/Indore-Municipal-Corporation-Green-Bonds-Updated-600x180.png 600w" sizes="(max-width: 625px) 100vw, 625px" /></a></p>
<p>The issue was oversubscribed by 1.76 times in the institutional investor category, while in the corporate investors category it was oversubscribed by two times. In the retail investor segment, the bonds were oversubscribed by 1.18 times.</p>
<p>The tenor of the green municipal bonds will be for 3, 5, 7, and 9 years with a coupon rate of 8.25%.</p>
<p>The Indore civic body has identified 210.84 acres of land to set up the solar project.</p>
<p>Last September, the municipal corporation had <a href="https://mercomindia.com/epc-tender-60-mw-solar-project-madhya-pradesh/" target="_blank" rel="noopener">invited</a> bids to appoint an engineering, procurement, and construction contractor for the ₹2.87 billion (~$34.75 million) project.</p>
<p>The municipal corporation said the project would enable it to reduce dependency on grid energy and reduce its carbon footprint. The project is also registered under Verified Carbon Standard Association, which manages the voluntary carbon markets program, to avail benefits of carbon credits.</p>
<p>Recently, the government <a href="https://mercomindia.com/government-sale-maiden-%e2%82%b9160-billion-green-bonds/" target="_blank" rel="noopener">completed</a> the sale of ₹160 billion (~$1.94 billion) worth of sovereign green bonds, with the second tranche raising ₹80 billion ($968.76 million). Like in the first tranche, the second tranche comprised ₹40 billion ($485.56 million) worth of bonds with a five-year tenor and a like amount of bonds with a ten-year tenor.</p>
<p>The yield on the five-year bond closed at 7.25%, and the 10-year bond closed at 7.34%. The Reserve Bank of India (<a href="https://www.rbi.org.in/" target="_blank" rel="noopener">RBI</a>) had set the cut-off yields at 7.23% and 7.29 % for the two bonds, respectively. The first tranche of India’s debut sovereign green bonds worth ₹80 billion ($968.76 million) were auctioned on January 25, 2023. The first installment yielded a slightly higher premium than the second one.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/rakesh-ranjan-parashar/" class="vcard author" rel="author"><span class="fn">Rakesh Ranjan</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Rakesh Ranjan,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener">More articles from Rakesh Ranjan.</a></p>
</div>
<div class="authorboxn">
<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="77" height="102" /><a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener"><strong style="color: #00b451">Rakesh Ranjan</strong></a> is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). <a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" rel="noopener noreferrer">More articles from Rakesh Ranjan.</a></p>
</div>
</div></div><div class="clearfix"></div></div></div>

Indore Municipal Corporation Raises ₹3 Billion in Green Bonds


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="http://mercomindia.com/wp-content/uploads/2022/09/amazon_polly_41511.mp3?version=1663226676">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Indore Municipal Corporation (<a href="https://imcindore.mp.gov.in/" target="_blank" rel="noopener">IMC</a>) has invited bids to select an engineering, procurement, and construction (EPC) contractor for the design, supply, installation, testing, and commissioning of a 60 MW solar power project at Samraj and Ashukhedi villages in Madhya Pradesh.</p>
<p>The successful bidder will also have to take care of the project’s comprehensive operation and maintenance (O&amp;M) for ten years.</p>
<p>The estimated project cost is ₹2.87 billion (~$36.06 million). The stipulated completion time is fifteen months from the award.</p>
<p>The last date to submit the bids is October 28, 2022. Bids will be opened the next day.</p>
<p>The scope of work also includes setting up interconnected transmission lines with 132 kV power evacuation equipment. It also includes long-term open access application, permission, and approval for captive power consumption generated from the project at Jalaud Pumping Station, Bhaklai Filtration plant, and HT consumer at IMC.</p>
<p>The cost of the tender form is ₹50,000 (~$628.14), and the bidders will also have to submit ₹15 million (~$188,462) as an earnest money deposit.</p>
<p>The successful bidders are required to submit a contract performance security amount equivalent to 5% of the contract value.</p>
<p>Bidders must have experience in executing 100 MW grid-connected ground-mounted solar power projects on a turnkey basis in the last five years. The projects must include design, supply, installation, testing and commissioning, operation, and maintenance of grid-connected solar power plant, transmission line construction, and switchyard/ substation bay (at least one project of 132 KV).</p>
<p>They should have commissioned either of the following in the last five financial years (2016-17 to 2021-22) &#8211; one ground-mounted solar power project of at least 48 MW capacity or two ground-mounted solar power projects of at least 30 MW capacity each, or three ground-mounted solar power projects of at least 20 MW capacity each.</p>
<p>Bidders must have an average annual turnover of ₹2 billion (~$25.13 million) in the last three financial years and a positive net worth for the last financial year. As per the last audited financial statement, they must also have a minimum working capital of ₹1 billion (~$12.56 million).</p>
<p>In March last year, the Indore Smart City Development Limited (ISCDL) <a href="https://mercomindia.com/indore-smart-city-reissues-tender-consulting-solar/" target="_blank" rel="noopener">issued</a> a revised tender for consultants to set up 100 MW to 120 MW ground-mounted or floating solar power projects in the city.</p>
<p>Earlier this month, NHDC, a joint venture between the government of MP and NHPC, <a href="https://mercomindia.com/nhdc-epc-tender-8-mw-solar-project-madhya-pradesh/" target="_blank" rel="noopener">invited</a> bids for an 8 MW ground-mounted solar photovoltaic project at Sanchi in the Raisen District of Madhya Pradesh.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/vijayalakshmi-sridhar/" class="vcard author" rel="author"><span class="fn">Vijayalakshmi Sridhar</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/07/New-Project-6.jpg" width="77" height="102" /> <a href="https://mercomindia.com/author/vijayalakshmi-sridhar/" target="_blank" rel="noopener">Vijayalakshmi</a> is a staff reporter at MercomIndia.com. She has two decades of experience as an independent journalist and features writer, and her work is featured across various publications and genres such as business, food, and clean energy. <a href="https://mercomindia.com/author/vijayalakshmi-sridhar/" target="_blank" rel="noopener">More articles from Vijayalakshmi</a>.</p>
</div></div><div class="clearfix"></div></div></div>

EPC Tender Issued for 60 MW Solar Project in Madhya Pradesh

indore-municipal-corporation

Get the most relevant India solar and clean energy news.

RECENT POSTS