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Agri-Solar Solutions Provider GK Energy Files Papers for ₹5.01 Billion IPO


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					</table><p><a href="https://www.mercomindia.com/uttarakhand-invites-bids-for-17-25-mw-of-solar-projects" target="_blank" rel="noopener"><strong>UJVN Limited, a Uttarakhand Government undertaking, has floated four tenders for setting up a cumulative 17.25 MW of ground-mounted grid-connected solar projects.</strong></a> The last day to submit the bids is November 28, 2023. Bids will be opened on November 30. The projects must be commissioned within 18 months from the issuance date or date of signing the power purchase agreement, whichever is earlier.</p>
<p><strong><a href="https://www.mercomindia.com/madhya-pradesh-invites-energy-storage-capacity" target="_blank" rel="noopener">M.P. Power Management Company, Jabalpur has invited tenders for the procurement of 500 MW energy storage capacity for six hours of discharge with a maximum of four hours of</a></strong> continuous discharge for 40 years from Inter-State Transmission System -connected pumped hydro storage projects through competitive bidding. The projects have to be developed under a “Build-Own-Operate-Maintain” basis from the projects commissioned or to be developed anywhere in India.</p>
<p><strong><a href="https://www.mercomindia.com/ntpcs-renewable-solar-projects-in-rajasthan" target="_blank" rel="noopener">NTPC Renewable Energy, a wholly owned subsidiary of NTPC, has invited bids for the engineering, procurement, and construction package to develop 650 MW grid-connected solar projects at</a></strong> Bikaner, Rajasthan. The last date for the submission of bids is December 12, 2023. Bids will be opened the same day. Bidders have to submit ₹22500 (~$270) as the cost of the bidding document.</p>
<p><a href="https://www.mercomindia.com/canadian-solar-production-facility-in-the-us" target="_blank" rel="noopener"><strong>Solar module manufacturer Canadian Solar has announced it is setting up a 5 GW solar photovoltaic cell production facility in Jeffersonville, Indiana in the United States with an investment of $800</strong></a> million. Production at the Jeffersonville facility is expected to begin by the end of 2025. The solar cells produced at this facility will be used at the previously announced 5 GW module assembly plant in Mesquite, Texas.</p>
<p><strong><a href="https://www.mercomindia.com/china-renewable-energy-capacity-9m-2023" target="_blank" rel="noopener">China’s renewable energy additions surged to 172 GW during the first nine months of 2023, ending September, a 93% increase from the same period last year, according to the country’s</a></strong> National Energy Administration (NEA). As per the NEA, renewable energy installations accounted for 76% of China’s total newly added installed generation capacity during the period. Further, by the end of September, China’s total installed renewable energy capacity touched 1,380 GW, exceeding that of coal-fired power.</p>
<p><a href="https://www.mercomindia.com/gentari-gic-greenko-green-ammonia" target="_blank" rel="noopener"><strong>Gentari, the clean energy division of Malaysia’s Petronas, has entered into an agreement with AM Green, a green energy platform initiated by the founders of India-based Greenko, to produce 5</strong></a> million tons per annum of green ammonia by 2030 using renewable energy sources. Gentari, through its wholly owned subsidiary, Gentari International Renewables, will co-invest progressively in AM Green Ammonia Holdings.</p>


Daily News Wrap-Up: Uttarakhand Invites Bids for 17.25 MW of Solar Projects


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					</table><p><a href="https://www.ujvnl.com/" target="_blank" rel="noopener">UJVN Limited</a>, a Uttarakhand Government undertaking, has floated four tenders for setting up a cumulative 17.25 MW of ground-mounted grid-connected solar projects.</p>
<p>The last day to submit the bids is November 28, 2023. Bids will be opened on November 30.</p>
<p>The projects must be commissioned within 18 months from the issuance date or date of signing the power purchase agreement, whichever is earlier.</p>
<p>Bidders should have executed similar works for the government, public sector undertakings, or private entities on an ownership, engineering, procurement, construction, or build-own-operate-transfer basis within the past seven years.</p>
<p>They should have an average annual turnover of ₹6 million (~$72,066)/ MW of quoted capacity during the last three years. They should have a positive net worth equal to ₹5 million (~$60,059)/ MW of total capacity and sufficient projected liquidity to sustain the required cash flow for the smooth execution of the project.</p>
<p>Bidders should have earned a profit in at least one out of the last three years.</p>
<p><strong>Tender 1</strong></p>
<p>Bidders must commission 1.5 MW of projects at Gaddha Colony in Dehradun.</p>
<p>The estimated project cost is ₹90 million ($1.1 million).</p>
<p>Bidders must submit an earnest money deposit of  ₹750,000 (~$9,008).</p>
<p><strong>Tender 2</strong></p>
<p>Bidders must commission 4 MW of projects near the Dharasu hydroelectric project in Uttarkashi.</p>
<p>The estimated project cost is ₹ 217.2 million ($2.6 million).</p>
<p>Bidders must submit an earnest money deposit of  ₹2 million (~$24,023).</p>
<p><strong>Tender 3</strong></p>
<p>Bidders must commission 7.75 MW of projects at Aungi in Uttarkashi.</p>
<p>The estimated project cost is ₹425.5 million ($5.1 million).</p>
<p>Bidders must submit an earnest money deposit of  ₹3.88 million (~$46,602).</p>
<p><strong>Tender 4</strong></p>
<p>Bidders must commission 4 MW of projects at Aungi in Uttarkashi.</p>
<p>The estimated project cost is ₹ 219.6 million ($2.6 million).</p>
<p>Bidders must submit an earnest money deposit of  (~$24,023).</p>
<p>In February, UJVNL <a href="https://www.mercomindia.com/uttarakhand-bids-for-9-5-mw-of-solar-projects" target="_blank" rel="noopener">invited</a> bids to set up 9.5 MW of grid-connected solar projects near the Kulhal powerhouse in Dehradun.</p>
<p>Subscribe to Mercom’s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker </a>to stay on top of real-time tender activity.</p>


Uttarakhand Invites Bids for 17.25 MW of Solar Projects


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					</table><p><a href="https://www.mercomindia.com/industry-hails-battery-energy-storage-projects" target="_blank" rel="noopener"><strong>The recently announced Viability Gap Funding (VGF) for Battery Energy Storage Systems (BESS) has been welcomed by industry stakeholders for its potential impact on system cost, demand, and</strong></a> manufacturing in the country. In September 2023, the Union Cabinet approved the VGF program, allocating an initial sum of ₹94 billion ($1.1 billion), with ₹37.6 billion ($452 million) designated as budgetary assistance to facilitate 4 GWh of BESS projects by 2030-31.</p>
<p><a href="https://www.mercomindia.com/supreme-court-ownership-consumption-captive-power-projects" target="_blank" rel="noopener"><strong>In a recent ruling, the Supreme Court of India reaffirmed that a user who owns 26% of a captive power-generating project and utilizes 51% of its electricity could be classified as a captive user.</strong></a> It also held that if a group of individuals constitutes the captive users, they must collectively possess a minimum ownership stake of 26% in the project and jointly consume at least 51% of the electricity generated annually. The Court noted that the ownership threshold of 26% must be maintained consistently throughout the calendar year.</p>
<p><a href="https://www.mercomindia.com/railways-tender-1-mw-rooftop-chhattisgarh" target="_blank" rel="noopener"><strong>Raipur Division of South East Central Railway in Chhattisgarh has invited bids for state-wise empanelment of agencies to implement grid-connected rooftop solar power projects of 1.165 MW</strong></a> capacity at its yards and workshops through public-private partnership and on a design, build, finance, operate, and transfer basis. The projects would be developed in two capacity ranges— more than 10 kW and up to 100 kW, and more than 100 kW and up to 500 kW. Bidders can quote for one or both capacities.</p>
<p><strong><a href="https://www.mercomindia.com/ujvnl-invites-solar-project-in-dehradun" target="_blank" rel="noopener">Uttarakhand Jal Vidyut Nigam, a state government enterprise, has invited bids for setting up a 2.5 MW canal bank grid-connected solar power project on the Yamuna Power Channel in</a></strong> Dakpathar district, Dehradun, Uttarakhand, on a build, own, operate, and transfer basis. The last date for the submission of bids is November 6, 2023. Bids will be opened the next day. Bidders have to submit ₹5,000 (~$60) as the cost of the tender and ₹75,000 (~$901) as a bid processing fee, along with 18% GST.</p>
<p><strong><a href="https://www.mercomindia.com/cerc-allows-fortnightly-trading-rec" target="_blank" rel="noopener">The Central Electricity Regulatory Commission has directed the Grid Controller of India (Grid-India) to organize two Renewable Energy Certificate (REC) trading sessions every month– the second</a></strong> and last Wednesday of each month– for the upcoming six months, starting from October. The Commission clarified energy sold by renewable energy generators registered under the REC mechanism in conventional market contracts at power exchanges is eligible for the issuance of RECs.</p>
<p><strong><a href="https://www.mercomindia.com/pspcl-floats-tender-power-from-ists-connected-projects" target="_blank" rel="noopener">The Punjab State Power Corporation has floated a tender to procure 1 GW of solar power from interstate transmission system-connected projects.</a></strong> This will be followed by an e-reverse auction for projects with a capacity of 50 MW or more located anywhere in India. The last date for submission of bids is October 31, 2023. Bids will be opened on November 2. Bidders have to pay ₹25,000 (~$300) plus 18% GST as the cost of the tender and a processing fee of ₹300,000 (~$3,604) plus 18% GST.</p>
<p><a href="https://www.mercomindia.com/sjvn-green-120-mw-solar-projects-assam" target="_blank" rel="noopener"><strong>SJVN Green Energy, a wholly-owned subsidiary of SJVN, has invited bids to commission two grid-connected solar power projects with a combined capacity of 120 MW for Assam Power Distribution</strong></a> Company.The projects include a 70 MW project in Dhubri and a 50 MW project in Sonepur in Assam. The selected developers must oversee the projects’ operation and maintenance for three years. The last day to submit the bids is November 3, 2023. Bids will be opened the same day.</p>
<p><strong><a href="https://www.mercomindia.com/union-cabinet-approves-royalty-critical-minerals" target="_blank" rel="noopener">The Union Cabinet has approved the amendment to the Second Schedule of the Mines and Minerals (Development and Regulation) Act, 1957, setting reduced royalty rates for three critical and strategic minerals – lithium, niobium, and Rare Earth Elements (REEs)</a></strong> – used in the energy transition technologies. The development paves the way for the inaugural auction of these mineral blocks with loyalty rates reduced by the Ministry of Mines from an elevated default rate of 12% of average selling (ASP) to 3% of the London Metal Exchange price for lithium, 3% of ASP (primary and secondary sources) for niobium, and 1% of ASP for rare earth oxide.</p>


Daily News Wrap-Up: Industry Hails Viability Gap Funding for Battery Storage Projects


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					</table><p>Uttarakhand Jal Vidyut Nigam (<a href="https://www.ujvnl.com/" target="_blank" rel="noopener">UJVNL</a>), a state government enterprise, has invited bids for setting up a 2.5 MW canal bank grid-connected solar power project on the Yamuna Power Channel in Dakpathar district, Dehradun, Uttarakhand, on a build, own, operate, and transfer (BOOT) basis.</p>
<p>The last date for the submission of bids is November 6, 2023. Bids will be opened the next day.</p>
<p>Bidders have to submit ₹5,000 (~$60) as the cost of the tender and ₹75,000 (~$901) as a bid processing fee, along with 18% GST.</p>
<p>The estimated cost of the project is ₹150 million (~$1.8 million).</p>
<p>Bidders must furnish ₹1.25 million (~$15,026) as an earnest money deposit.</p>
<p>The successful bidder has to submit a performance bank guarantee of ₹2.5 million (~$30,052) before the signing of the Power Purchase Agreement (PPA).</p>
<p>The project should be initiated no later than 12 months after either the signing of the PPA with the developer or the issuance of the project&#8217;s start date, depending on whichever event occurs first.</p>
<p>The successful bidder would be responsible for the supply of electricity for 25 years, per the PPA&#8217;s terms and conditions.</p>
<p>The PPA will be executed between UJVNL and the successful bidders within thirty days after the issuance of the Letter of Intent.</p>
<p>UJVNL will grant land, on a right-to-use basis, near Bridge No-01, Dakpathar of Yamuna Power Channel, in the vicinity of Dakpathar, District Dehradun, to solar power developers for 25 years, plus an additional twelve months for the establishment of solar plants.</p>
<p>The bidder has the freedom to select any solar power generation technology, including options like crystalline silicon solar cell modules, thin film modules, concentrated PV modules, or any other PV technology.</p>
<p>However, the chosen solar module must adhere to the current Indian Standards/ International Electrotechnical Commission standards and receive approval from the Ministry of New and Renewable Energy (MNRE).</p>
<p>The tender intends to support well-established and proven technologies exclusively to reduce technological risks and ensure the project&#8217;s successful launch within the state.</p>
<p>The bidder or any consortium member must have a track record of successfully completing similar projects for the Central Government, State Government, CPSUs, PSUs, and private entities on an ownership basis, engineering, procurement, and construction (EPC), or BOOT basis within the last seven years.</p>
<p>Similar projects include the EPC, supply, installation, commissioning, and operation &amp; maintenance of solar modules, wind turbines, or balance of system components for any grid-connected solar or wind power project.</p>
<p>The bidder’s average annual financial turnover in the last three years must be at least ₹6 million (~$72,124)/MW of the quoted capacity.</p>
<p>The bidder should have a positive net worth equal to a minimum of ₹5 million (~$60,104)/MW of the quoted capacity and sufficient projected liquidity to ensure smooth project execution.</p>
<p>The bidder should have generated a profit in at least one of the immediately preceding three years (2020-21, 2021-22, 2022-23).</p>
<p>In February, UJVNL <a href="https://www.mercomindia.com/uttarakhand-bids-for-9-5-mw-of-solar-projects" target="_blank" rel="noopener">invited</a> bids to set up 9.5 MW of grid-connected solar projects near the Kulhal powerhouse in the Dehradun district.</p>
<p>Recently, the Uttarakhand Government <a href="https://mercomindia.com/uttarakhands-draft-solar-policy-targets-2000-mw-by-2028/" target="_blank" rel="noopener">released</a> a draft solar policy that targets 2,000 MW of installed solar capacity and envisages boosting the proportion of solar power in power distribution companies’ energy purchases to 18% by 2028.</p>
<p>Subscribe to Mercom’s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker </a>to stay on top of tender activity in real time.</p>


UJVNL Invites Bids for 2.5 MW Canal Bank Solar Project in Dehradun


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					</table><p><a href="https://www.ujvnl.com/" target="_blank" rel="noopener">UJVNL</a>, a government of Uttarakhand enterprise, has invited bids to set up 9.5 MW of grid-connected solar projects near the Kulhal powerhouse in the Dehradun district.</p>
<p>The projects will be connected to the 33/11 kV substation at the Kulhal powerhouse under the Solar Energy Policy of Uttarakhand-2013 for the sale of power to UJVNL.</p>
<p>The last date to submit the bids online is February 24, 2023. Bids will be opened on February 27.</p>
<p>UJVNL has set a ceiling tariff of ₹3.91 (~$0.047)/kWh for the tender.</p>
<p>Bidders will have to submit ₹237,500 (~$2,879) plus 18% GST as a processing fee. Also, bidders will have to furnish ₹4.75 million (~$57,578) as an earnest money deposit.</p>
<p>The successful bidder will have to furnish ₹9.5 million (~$115,157) as a security deposit in the form of a bank guarantee.</p>
<p>The project&#8217;s estimated cost is ₹389.3 million (~$4.72 million).</p>
<p>The project must be commissioned within nine months from the date of signing of the power purchase agreement (PPA) between the solar power developer and UJVNL.</p>
<p>The PPA will be signed between UJVNL and the successful bidders within 30 days from the issuance of the letter of award and will be applicable for 25 years after the commercial operation date.</p>
<p>The proposed locations for grid-connected solar power projects near the Kulhal hydroelectric power project are given below:</p>
<p style="text-align: center;"><a href="https://mercomindia.com/wp-content/uploads/2023/02/UJVNL-1-1.png"><img loading="lazy" decoding="async" class="alignnone wp-image-48939 size-full" src="https://mercomindia.com/wp-content/uploads/2023/02/UJVNL-1-1.png" alt="UJVNL -1" width="464" height="232" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/02/UJVNL-1-1.png 464w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/02/UJVNL-1-1-300x150.png 300w" sizes="(max-width: 464px) 100vw, 464px" /></a></p>
<p>Bidders should have executed three similar works, each costing not less than 40% of the project&#8217;s estimated cost, or two similar works, each costing not less than 50% of the project&#8217;s estimated cost, or one project costing at least 80% of the project&#8217;s estimated cost for the central government, state governments, public sector undertakings, or private firms during the last seven years.</p>
<p>Also, they should have executed the installation and commissioning, operation and maintenance, or the balance of system of a solar power project or a wind power project of a minimum capacity of 2 MW.</p>
<p>Further, the average annual financial turnover of bidders during the last three financial years should be at least 30% of the project&#8217;s cost.</p>
<p>Additionally, bidders should have a positive net worth equal to ₹15 million (~$181,827)/MW and sufficient liquidity in order to sustain the required cash flow for the smooth execution of the project.</p>
<p>The solar project developer will be responsible for entering into a transmission evacuation agreement with UJVNL after the allotment of the project and the signing of the PPA.</p>
<p>According to the tender documents, after the completion of 25 years from the commercial operation date of the project, the project will be handed over back to UJVNL by the developer.</p>
<p>UJVNL has stated that the solar modules to be used in the project must be warranted for output wattage, which should not be less than 90% at the end of ten years and 80% at the end of 25 years.</p>
<p>Recently, the Uttarakhand Government <a href="https://mercomindia.com/uttarakhands-draft-solar-policy-targets-2000-mw-by-2028/" target="_blank" rel="noopener">released</a> a draft solar policy that targets 2,000 MW of installed solar capacity and envisages boosting the proportion of solar power in power distribution companies&#8217; energy purchases to 18% by 2028.</p>
<p>Subscribe to Mercom&#8217;s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker </a>to stay on top of tender activity in real time.</p>


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