Tata Power’s distribution licensee division has invited bids for the procurement of 150 MW of renewable power (wind, solar, small hydro, or combination) on a short-term basis.
The company has invited bids for the procurement of up to 100 MW renewable power from projects in Maharashtra and up to 50 MW from projects outside Maharashtra for the period between September 08, 2020, and March 31, 2021, to meet its renewable purchase obligation (RPO).
The last date for the submission of bids is September 04, 2020, and the opening of non-financial technical bids will take place on September 05, 2020.
Interested bidders will have to submit an amount of ₹7,500 (~$102)/MW as the earnest money deposit (EMD).
The successful bidder would be required to apply for short-term open access so that they can supply their contracted amount within the supply period.
The ceiling tariff for the projects in Maharashtra has been set as ₹2.76 (~$0.04)/kWh, and for outside Maharashtra, it would be ₹3.30 (~$0.05)/kWh.
To take part in the bidding process, the bidder should offer the quantity indicated in the request for proposal (RfP) document for the respective period. The supply of power can be provided from one or more than one source (wind or solar) subject to the condition that the offered capacity should not be less than 5 MW, which is the minimum bidding amount.
As per the document, all the open access charges, transmission charges, point of connection (POC) injection, withdrawal charges and losses, reliability support charges, scheduling charges, or any other charges up to the delivery point will be borne by the bidder. Tata Power would handle all the open access charges beyond the delivery point.
Recently, Tata Power announced that its wholly-owned subsidiary, Tata Power Renewable Energy Limited, received a letter of award to develop a 225 MW hybrid renewable power project. The LoA was awarded from its Mumbai-based distribution company – Tata Power Mumbai Distribution. The project will be used to supply power to the DISCOM under a PPA for 25 years.
Earlier, Tata Power issued a tender to procure power on a long-term basis for 225 MW of grid-connected wind-solar hybrid power projects. The minimum project size of a single hybrid power project for an intra-state project was 25 MW of wind with at least a 5 MW project at one site. For inter-state projects, the capacity was 50 MW at one site to be interconnected at a single delivery point.
Previously, Tata Power had announced its annual results for the financial year 2019-20. The company’s income statement said that in the FY 2020, its revenue declined by 3% and stood at ₹289.48 billion ($3.8 billion) as compared to ₹299.84 billion (~$3.9 billion) in the last financial year.