The Punjab State Power Corporation Limited (PSPCL) has invited bids to procure 1,000 MW of firm and dispatchable renewable energy (FDRE) on a demand-following basis. The deadline for bid submission is January 10, 2025. According to the tender guidelines, the bidders are required to submit a processing fee of Rs 300,000 plus 18 per cent GST, along with a deposit of Rs 1.5 million per MW. The projects can be located anywhere in India, with a minimum bid capacity of 50 MW and a maximum of 500 MW. Bids must be submitted in increments of 10 MW. The power purchase agreement (PPA) for the selected projects will have a term of 25 years.
The projects must include energy storage systems and be designed to interconnect with the interstate transmission system at 220 kV or above. For projects connecting to the state transmission utility in Punjab, the voltage level will be in line with state regulations. The renewable energy capacity of the projects must meet 100 per cent of PSPCL’s firm and dispatchable power supply requirements.
According to the eligibility criteria, the bidders must have a minimum net worth of Rs 10 million per MW as of the last date of the previous financial year or within seven days of the bid submission deadline. Additionally, bidders must have an annual turnover of at least Rs 5 million per MW of contracted capacity, either from the previous financial year or within seven days before the bid submission deadline.
