FCC

Maharashtra seeks 977 MW solar power via tenders

2023-09-08

MSEB Agro Solar Power, a subsidiary wholly owned by MSEB Holding Company, has announced the release of five tenders aimed at procuring 977.72 MW of solar power in accordance with the Mukhyamantri Saur Krushi Vahini Yojana in Maharashtra.

It was reported that the tenders had been issued for specific capacities in various districts: 158.75 MW in the Kolhapur district, 186.044 MW in the Sangli district, 199.94 MW in the Satara district, 211.06 MW in the Yavatmal district, and 221.93 MW in the Chhatrapati Sambhajinagar District.

It was further noted that the deadline for the submission of bids for all these tenders was October 21, 2023, with the opening of bids scheduled for the same day.

It was also specified that bidders were required to provide an earnest money deposit of Rs 100,000 per MW of the capacity they quoted. In addition, the successful bidder was obligated to furnish a performance bank guarantee of Rs 500,000 per MW of the capacity allocated to them.

The successful bidder was instructed to ensure that the project's special purpose vehicle (SPV) entered into a power purchase agreement (PPA) with the Maharashtra State Electricity Distribution Company (MSEDCL) within 15 days of receiving the letter of award.

Furthermore, the project had to be commissioned within a period of 12 months from the date of signing the PPA. The eligibility criteria for bidders included the requirement to have commissioned a minimum of 250 MW of solar capacity. Additionally, bidders were expected to demonstrate a net worth of at least Rs 10 million over the past three financial years.

For foreign investment funds, qualification was based on assets under management amounting to at least Rs 10 billion.

Moreover, bidders were required to exhibit a minimum annual turnover of at least Rs 2.5 million per MW of the base capacity during the previous financial year.

Lastly, bidders had to possess an internal resource generation capability in the form of profit before depreciation, interest, and taxes, calculated at the rate of Rs 1 million per MW of the quoted capacity as of the last date of the preceding financial year.

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