Rewa Ultra Mega Solar (RUMSL) has invited bids to develop 750 MW wind-solar hybrid power projects in Madhya Pradesh on a build-own-operate basis. The developers can also propose to add storage capacity along with the projects.
The last date to submit the bids is November 17, 2023. Bids will be opened on the same day.
Bidders can submit their offers for a minimum of 10 MW and a maximum of 375 MW capacity.
Bidders must submit a bid document fee of ₹25,000 (~$301) plus GST and a bid processing fee of ₹100,000 (~$1,204) plus 18% GST for a project capacity of 10 MW to 50 MW and ₹200,000 (~$2,408) plus GST for projects with above 50 MW capacity.
They must also submit a bid security of ₹1.1 million (~$13,243) per MW of the quoted capacity.
The selected bidders must submit a performance bank guarantee of ₹2.75 million (~$33,107) per MW of the allotted capacity seven days before signing the power purchase agreement (PPA).
They must pay success charges of ₹50,000 (~$602) per MW of the allotted capacity plus 18% GST to RUMSL towards the administrative and legal overheads for the bid process. They must also pay a payment security fund at ₹500,000 (~$6,019) per MW of the allotted capacity to Madhya Pradesh Power Management Company (MPPMCL) three months before the scheduled commencement of the supply.
The solar and wind components of the hybrid power project can be located at the same or different locations. The rated power capacity of any one of the components must be at least 33% of the total contracted capacity.
The hybrid power projects must be designed for interconnection with the Madhya Pradesh Power Transmission Company (MPPTCL) network. The developers will be responsible for setting up the connectivity to the nearest substation and long-term open access for the power purchase agreement period.
The PPA duration will be 25 years from the scheduled commencement of the supply.
Bidders must have a net worth of a minimum ₹11.1 million (~$133,636) per MW of the quoted capacity as of March 31, 2023.
They must have a minimum annual turnover of ₹5.5 million (~$66,216) per MW of the quoted capacity during the financial year 2022-23 or seven days before the bid submission deadline.
Alternatively, they can present documents showing an internal resource generation capability in the form of Profit Before Depreciation, Interest, and Taxes for a minimum ₹1.1 million (~$13,243) per MW of the quoted capacity as of FY 2022-23.
Bidders can also have an in-principle sanction letter from the lending institution or banks, committing a line of credit for a minimum of ₹1.65 million (~$19,864) per MW of the quoted capacity towards meeting the working capital requirement.
Foreign companies are also allowed to participate in the tender on a standalone basis or as a consortium member. If they participate on a standalone basis, they must form a special purpose vehicle (SPV), i.e., an Indian company registered under the Companies Act 2012 as its subsidiary company with at least 51% shareholding in the SPV before signing the PPA.
The hybrid project’s Capacity Utilization Factor (CUF) must not be less than 30% in any of the contract years. The project developer must maintain the generations so as to achieve an annual CUF of not less than 90% and not more than 120% of the declared CUF value during the PPA period.
In November last year, RUMSL invited bids from consultants to prepare a detailed project report to develop the Morena wind-solar hybrid project with energy storage in Madhya Pradesh.
In September 2022, RUMSL announced the winners of the auction for developing 750 MW of grid-connected wind-solar hybrid power projects.
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