The Uttar Pradesh Power Corporation (UPPCL) has invited bids from project developers to set up 2 GW of grid-connected solar power projects in India under the build-own-operate and maintain (BOOM) model for 25 years.

The last date for submitting bids is March 18, 2024. Bids will be opened on the same day.

The ceiling tariff for the projects is set at ₹2.70 (~$0.03)/kWh.

Bidders have to submit a non-refundable document fee of ₹29,500 (~$355.35) and a bid processing fee of ₹500,000 (~$6,022.95) + 18% GST for each project from 50 MW up to 90 MW and ₹1.5 million (~$18,068.86) + 18% GST for each project from 100 MW and above.

Bidders also have to furnish an earnest money deposit of ₹900,000 (~$10,841.40)/MW per project.

The participants are permitted to utilize financial incentives, such as accelerated depreciation, preferential customs and excise duties, tax holidays, and similar benefits applicable to such projects.

The benefits outlined in the Uttar Pradesh Solar Policy 2022 will apply to the solar projects proposed for development in the state by the bidders.

Bidders who have either operational solar power projects/storage projects or are in the process of constructing such projects and possess unutilized capacity are eligible to participate in this tender.

In such instances, they will be granted the advantage of an extended power purchase agreement (PPA) duration, aligning with the time difference between the actual commencement of power supply and the scheduled commencement of supply date.

Bidders who have already entered into PPAs with UPPCL by the bid submission deadline are prohibited from unilaterally terminating these agreements and engaging in this tender.

No separate central financial assistance is envisaged for the implementation of the projects.

A bidder, which includes its parent, affiliate, or ultimate parent, or any group company, is required to submit a singular bid offering a contracted capacity ranging from a minimum of 50 MW to a maximum of 1,000 MW.

The bidder holds the discretion, at its own cost, risk, and responsibility, to determine the locations for the projects. The cumulative capacity of the project can be established either at a single location or configured as a set of “blocks” distributed across multiple locations, as deemed necessary by the bidder or solar power developer.

In the case of a single project, these ‘blocks’ must be situated within the same state.

The initiative aims to endorse exclusively commercially proven and operational technologies, thereby mitigating technology risks and ensuring the timely commencement of power supply from the projects.

Bidders are required to have a net worth equal to or exceeding ₹9 million (~$108,417)/MW for the quoted capacity. This assessment is to be conducted either on the last day of the preceding financial year, i.e., FY 2022-23 or at least seven days before the bid submission deadline.

Bidders must demonstrate a minimum annual turnover of ₹3.87 million (~$46,679.7)/MW for the quoted capacity in the previous financial year, i.e., 2022-23, or at least seven days before the bid submission deadline.

Recently, Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) issued three tenders to install 7 MW of grid-connected net-metered rooftop solar projects with battery backup.

Subscribe to Mercom’s India Solar Tender Tracker to stay on top of the tender activity in real-time.