The Municipal Corporation of Greater Mumbai (MCGM) has invited bids for the development of floating solar-hydropower hybrid power projects of a total capacity of 100 MW at the Middle Vaitarna Dam in Maharashtra. Of the tendered capacity, 80 MW will be for floating solar projects and the remaining 20 MW will be generated through hydroelectric projects. The ceiling tariff for the tender has been set at Rs 4.48 per kWh. Prospective bidders must have a net worth of at least Rs 4.72 billion as of March 31, 2020. Commercial operation for the projects must be within 24 months of the date of financial closure for the hydroelectric capacity and within 18 months for the floating solar capacity. Interested and eligible bidders must submit an earnest money deposit of Rs 4.7 million and a bank guarantee of Rs 42.5 million. The floating solar projects are expected to generate 140.58 MUs of electricity a year while the hydropower projects are expected to generate 67.98 MUs a year. The deadline for the submission of bids is December 10, 2020.
The current tender comes after an announcement made by the Maharashtra Government, in June 2019, where floating solar projects were planned across four dams in the state. Floating solar projects have been gaining traction in India owing to the environmental and social issues in acquiring land. In September 2020, the Damodar Valley Corporation proposed the development of 1.7 GW floating solar projects in West Bengal and Jharkhand. In July 2020, the NHPC signed an MoU to develop 500 MW of floating solar projects in Odisha.