MSEDCL floats bids for 500 MW intra-state solar projects

The Maharashtra State Electricity Distribution Company (MSEDCL) has floated bids for the long-term procurement of energy generated from 500 MW of grid-connected intrastate solar power projects (Phase IX). According to the tender guidelines, Rs 472,000 per MW should be deposited as an earnest money deposit. Also, the winning bidder will be required to provide a performance bank guarantee worth Rs 1.29 million per MW.

The minimum project capacity must be 25 MW at a single location with a minimum bid capacity of 50 MW for projects. The maximum bidding capacity for a single bidder is 500 MW, subject to satisfying the technical and financial criteria. Further, the project capacity should be in multiples of 25 MW beyond the minimum project capacity. Also, MSEDCL will enter into a power purchase agreement with the selected bidders for a period of 25 years from the scheduled commercial operation date.

The net worth of bidders for the last financial year should not be less than Rs 10 million per MW. The minimum annual turnover of bidders during the last financial year should be at least Rs 3.52 million per MW of the quoted capacity. Additionally, they should have consent from lending organisations for a minimum sum of Rs 879,000 per MW of the quoted capacity to be used for project’s working capital requirements. The winning bidder will be in charge of establishing grid connectivity with the Maharashtra State Electricity Transmission Company. The deadline for bid submission is November 9, 2022. 

Recently in August 2022, MSEDCL invited bids for a long-term contract to purchase 250 MW of flexible and schedulable power from grid-connected renewable energy projects with an energy storage facility. The tender contained the facility of a greenshoe option.

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