Rewa Ultra Mega Solar (RUMSL) has issued a call for proposals to establish 750 MW wind-solar hybrid energy initiatives in Madhya Pradesh under a build-own-operate framework. Participants may also consider incorporating energy storage capacities in conjunction with these undertakings.
The deadline for submitting proposals is November 17, 2023, with bid opening scheduled for the same day.
Bidders have the flexibility to present offers for a minimum of 10 MW and up to 375 MW of capacity.
Prospective participants must remit a documentation fee of INR 25,000 (-$301) plus GST, in addition to a bid processing charge of INR 100,000 (-$1,204) plus 18% GST for projects ranging from 10 MW to 50 MW. For projects exceeding 50 MW, the bid processing fee is INR 200,000 (-$2,408) plus GST.
Furthermore, they are required to submit a bid security of INR 71.1 million (-$13,243) per MW of the quoted capacity.
Once selected, bidders must provide a performance bank guarantee of INR 2.75 million (-$33,107) per MW of the allocated capacity a week before executing the power purchase agreement (PPA).
A success fee of INR 50,000 (-$602) per MW of the assigned capacity, along with 18% GST, must be paid to RUMSL to cover administrative and legal expenses related to the bidding process. Additionally, a payment security fund of INR 500,000 (-$6,019) per MW of the allocated capacity is required to be deposited with Madhya Pradesh Power Management Company (MPPMCL) three months before the scheduled supply commencement.
The solar and wind components of the hybrid power projects may be situated at the same or separate sites, with at least one of the components having a rated power capacity of no less than 33% of the total contracted capacity.
The hybrid projects are to be designed for connection to the Madhya Pradesh Power Transmission Company (MPPTCL) network, with developers responsible for establishing connectivity to the nearest substation and ensuring long-term open access for the duration of the power purchase agreement.
The PPA duration spans 25 years from the scheduled supply commencement.
Bidders are required to demonstrate a minimum net worth of INR 211.1 million (~$133,636) per MW of the quoted capacity as of March 31, 2023.
They must also exhibit a minimum annual turnover of INR 25.5 million (~$66,216) per MW of the quoted capacity for the fiscal year 2022-23, or at least seven days before the proposal submission deadline.
Alternatively, bidders may present documents showing an internal resource generation capability in the form of Profit Before Depreciation, Interest, and Taxes of at least INR 21.1 million (-$13,243) per MW of the quoted capacity as of FY 2022-23.
Additionally, participants may hold an in-principle sanction letter from lending institutions or banks, pledging a credit line of at least INR 1.65 million (-$19,864) per MW of the quoted capacity to meet working capital requirements.
Foreign enterprises are eligible to participate in the solicitation as standalone entities or as consortium members. If they opt for standalone participation, they are mandated to establish a special purpose vehicle (SPV), registered as an Indian company under the Companies Act 2012, with at least 51% ownership in the SPV before signing the PPA.
The hybrid project’s Capacity Utilization Factor (CUF) should not fall below 30% in any of the contract years. Developers are obligated to maintain generation levels to achieve an annual CUF between 90% and 120% of the declared CUF value during the PPA period.
In November of the prior year, RUMSL sought bids from consultants to formulate an in-depth project report for the development of the Morena wind-solar hybrid project with energy storage in Madhya Pradesh.
In September 2022, RUMSL unveiled the victors of the auction for the establishment of 750 MW grid-connected wind-solar hybrid power projects. Stay updated on real-time tender activities by subscribing to Mercom’s India Solar Tender Tracker.
