SJVN Invites Bids to Develop 1.2 GW ISTS-Connected Solar Projects

SJVN has invited bids from developers to set up 1.2 GW interstate transmission system (ISTS)-connected solar power projects anywhere in India under tariff-based competitive bidding.

The last day to submit the bids is June 17, 2024. Bids will be opened on June 21.

The minimum project capacity that a bidder can offer is 50 MW and the maximum is 600 MW. Bidders can offer projects at multiple locations, given each project has a minimum capacity of 50 MW.

Bidders should also submit a tender fee of ₹29,500 (~$353). They must also remit a bid processing fee of ₹1.5 million (~$17,967)/ MW for each project.

They must furnish an earnest money deposit of ₹942,000 (~$11,283)/MW per project.

Selected bidders must submit a performance bank guarantee of ₹2.35 million (~$28,149)/ MW of the allocated capacity before signing the power purchase agreement. They must also pay a success charge of ₹100,000 (~$1,197)/ MW of awarded capacity.

Successful bidders must pay ₹0.02 (~$0.00024)/ KWh to SJVN as payment security mechanism charges.

The bidders’ net worth should be at least ₹9.42 million (~$112,835)/ MW of the quoted capacity as of the last date of the previous financial year or on the day at least seven days before the bid submission deadline.

Their minimum annual turnover must be ₹14.13 million (~$169,253) /MW of the quoted capacity during the last three financial years.

Bidders must have an internal resource generation capability in the form of profit before depreciation interest and taxes for a minimum amount of ₹2.82 million (~$33,778)/ MW of the quoted capacity, as on the last date of the previous financial year or as on the day at least seven days before the bid submission deadline.

They must present an in-principle sanction letter from their lending institutions or banks, committing a line of credit for a minimum of ₹5.89 million (~$70,551)/ MW of the quoted capacity towards meeting the working capital requirement of the quoted project capacity.

The modules used in the project must be listed in the latest Approved List of Models and Manufacturers issued by the Ministry of New and Renewable Energy.

Recently, SJVN invited bids to select renewable energy developers to supply 600 MW firm and dispatchable power from ISTS-connected renewable energy projects with energy storage systems.

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