Torrent Power Reissues Tender for Getting 300 MW of Solar in Gujarat

• Torrent Power Limited has actually editioned the tender for the acquisition of up to 300 MW of power from grid-connected solar projects in Gujarat.

The last date to submit the quotes is January 18, 2021. The pre-bid meeting will certainly happen on January 04, and technical proposals will be opened on January 22.

Bidders will need to submit an amount of 1 million (~$13,539)/ MW as the down payment deposit (EMD).

The tender was originally drifted in January 2019 as well as editioned in August 2019 as a result of a tepid action.

Per the tender document, Torrent Power will certainly participate in a power purchase arrangement (PPA) with the effective prospective buyer for 25 years from the scheduled operation day (SCOD). Projects unfinished, projects which are not yet appointed, and also projects already appointed however do not have any lasting PPA with any type of firm and also offering power on short-term will certainly be thought about.

The minimum project ability will be 50 MW, and also the maximum allocated to a single prospective buyer will certainly be 150 MW. The effective bidder ought to set up the transmission network as much as the delivery point at its own expense.

To take part in the bidding procedure, the prospective buyer or its associates ought to have functional or under implementation solar projects off at the very least 50 MW ability. The bidder or its associate should not have defaulted on their financial debt obligations towards any one of their lending institutions in the past 12 months.

Pertaining to the financial standards, the bidder's net worth or its associates must not be less than 15 million (~$203,091)/ MW since March 31, 2020. The prospective buyer's yearly turnover for the financial year 2019-2020 ought to not be less than 20 million (~$270,788)/ MW of the capacity priced quote. The prospective buyer's internal resource generation should not be less than 10 million (~$135,394)/ MW since March 31, 2020.

Torrent Power will certainly bear all costs, consisting of transmission and also wheeling fees and losses worrying the transmission and also circulation beyond the distribution factor.

According to the tender document, the proclaimed capability use aspect (CUF) should, in no instance, be less than 19%. The effective prospective buyer must maintain generation to accomplish annual CUF within +10% and also -15% of the proclaimed CUF till completion of ten years from the business operation date.

In the recently held public auction by the Gujarat Urja Vikas Nigam Limited for 500 MW of solar projects, Torrent Power was among the winners estimating a brand-new record low rate of 1.99 (~$0.0269)/ kWh for 100 MW.