Maharashtra Floats Tenders to Procure 1.92 GW of Solar Power

MSEB Agro Solar Power, a wholly-owned subsidiary of MSEB Holding Company, has floated nine tenders to procure 1.92 GW of solar power under the Mukhyamantri Saur Krushi Vahini Yojana in Maharashtra.

The tenders have been floated for 197.78 MW in Akola, 289.38 MW in Jalgaon, 116.65 MW in Jalna, 230.49 MW in Pune, 230.72 MW in Ahmednagar, 147 MW in Buldhana, 289.76 MW in the Nashik, 153.29 MW in the Washim, and 265.05 MW in the Nanded districts of Maharashtra.

The last date to submit the bids for all the tenders is November 20, 2023. Bids will be opened on the same day.

Bidders must submit ₹100,000 (~$1,201)/MW of the quoted capacity as the earnest money deposit.

The successful bidder must furnish an amount equivalent to ₹500,000 (~$6,007)/MW of the quoted capacity as a performance bank guarantee.

The selected developer must ensure that the project special purpose vehicle (SPV) signs the power purchase agreement (PPA) with the Maharashtra State Electricity Distribution Company (MSEDCL) within 15 days from the letter of award.

The project must be commissioned within 12 months from the PPA signing date.

The evacuation of power up to the delivery point and energy accounting infrastructure will be the responsibility of the successful bidder.

Bidders should have previously commissioned at least 250 MW of solar capacity.

The net worth of bidders during the last three financial years should be at least ₹10 million (~$120,130).

A foreign investment fund may qualify on the basis of assets under management of at least ₹10 billion (~$120.13 million).

The minimum annual turnover of bidders should be at least ₹2.5 million (~$30,033)/MW of the base capacity during the last financial year.

Bidders should have an internal resource generation capability in the form of profit before depreciation, interest, and taxes for an amount that should be calculated at the rate of ₹1 million (~$12,013)/MW of the quoted capacity as of the last date of the previous financial year.

MSEB has mandated the use of solar modules from the Approved List of Models and Manufacturers issued by the Ministry of New and Renewable Energy.

The declared capacity utilization factor (CUF) should, in no case, be less than 19% over a year. The solar power generator will be allowed to achieve a CUF of 15% for certain units that are part of the project, provided that the CUF of the project will remain at 19% over any contract year.

MSEB Agro Solar Power recently floated five tenders to procure 977.72 MW of solar power under the Mukhyamantri Saur Krushi Vahini Yojana in Maharashtra.

Earlier, Maharashtra State Electricity Distribution Company had issued multiple tenders to develop solar projects of 615 MW in aggregate capacity split into four different regions of the state.

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