The Punjab Energy Development Agency (PEDA) has invited bids for a cumulative capacity of 18 megawatts (MW) of grid-connected solar power projects.
The projects are at four locations of the Bhakra Beas Management Board (BBMB) on a build, own, and operate basis.
The successful bidder will be responsible for supplying power to the BBMB as per the terms and conditions of the power purchase agreement (PPA).
The solar projects are to be commissioned within 13 months from the date of the signing of the PPA. The last date to submit the bids is December 30, 2021. Bids will be opened on December 31. Bidders will have to pay Rs 500,000 per megawatt as earnest money deposit.
Further, the successful bidder will have to furnish an amount of Rs 10 lakh per MW as a performance bank guarantee.
The bidder should only use modules listed in the Approved List of Models and Manufacturers (ALMM) issued by the Ministry of New and Renewable Energy.
Besides, the successful bidder has to set up the solar project on the land of BBMB. The developer will have to sign a rent agreement with the BBMB for 27 years, i.e., 25 years of the agreement, 13-month installation, and six months for land vacation. BBMB will provide land to the solar developer at a rent of Rs100/acre annually.
The bidder should have installed and commissioned at least one grid-connected project with a capacity of 5 MW or higher, which should have been in operation for at least one year before the bid submission date.
The bidder should also deploy commercially successful and operational technology wherein at least one project of the proposed technology should have been in operation for at least one year before the bid submission date.
The bidder’s net worth should be equal to or greater than Rs 70 lakh/MW of the quoted capacity, as on the last date of the previous financial year.
In September last year, PEDA, on behalf of the BBMB, invited bids to develop a 2 MW grid-connected ground-mounted solar power project. To date, PEDA has issued tender for 335 MW of solar projects.