Vedanta Limited, a diversified natural resources company, has invited Expression of Interest (EoI) for the procurement of solar power under short or medium term basis from solar power generators, state electricity boards and utilities, independent power producers and traders.
The delivery point for the generated power will be Vedanta Limited’s premises in Odisha’s Jharsuguda. The minimum bid capacity is 20 MW and the maximum has been fixed at 300 MW.
The last date for bid submission is January 8, 2019. The price bid will open on January 10, 2019.
The successful bidders will enter into a power purchase agreement (PPA) within 15 days from the date of issuance of the letter of acceptance (LOA). They will also have to furnish a contract performance guarantee (CPG) within seven days of completion of the bidding process. Apart for these, the successful bidders will have to book the open access transmission corridor by applying to nodal regional load dispatch centers.
The traders submitting bids should have a valid license from the Central Electricity Regulatory Commission (CERC) or State Electricity Regulatory Commissions (SERC) for inter or intra-state trading of electricity.
Moreover, the EoI states that none of the parties will be liable to each other on account of failure or delay caused by unforeseeable circumstances (force majeure). Either of the two parties can terminate the agreement by giving an advance notice of 30 days to the other party.
Earlier, Mercom reported that Vedanta Limited was planning to develop a solar project with a minimum capacity of 20 MW and a maximum capacity of 50 MW for captive consumption in Rajasthan’s Barmer district.
Image credit: RESOL
Nitin is a staff reporter at Mercomindia.com and writes on renewable energy and related sectors. Prior to Mercom, Nitin has worked for CNN IBN, India News, Agricultural Spectrum and Bureaucracy Today. He received his bachelor’s degree in Journalism & Communication from Manipal Institute of Communication at Manipal University and Master’s degree in International Relations from Jindal School of International Affairs. More articles from Nitin Kabeer