Maharashtra State Electricity Distribution Company (MSEDCL) has invited bids to procure 500 MW of power from intrastate grid-connected solar projects with a greenshoe option of an additional 500 MW. 

To participate in the auction, participants must fulfill the following conditions:

• the net worth of bidders during the last financial years should not be less than INR10 million (US$120,757)/MW of the quoted capacity;
• the minimum annual turnover of bidders should be at least INR3.52 million (US$42,507)/MW of the quoted capacity during the last financial year;
• have internal resource generation capability in the form of Profit Before Depreciation, Interest, and Taxes for a minimum of INR703,400 (US$8,494)/MW of the quoted capacity as of the last day of the previous financial year;
• approval from lending institutions providing a line of credit of at least INR879,000 (US$10,615)/MW declared capacity.

The selected bidder will be responsible for the transmission of power up to the point of interconnection and energy accounting infrastructure and getting the grid connectivity. Bidders must only use solar modules, which should not be less than 90% at the end of ten years and 80% at the end of 25 years from the commercial operation date of the project. The minimum design capacity is 25 MW at one location, the minimum proposal capacity is 50 MW for projects. 

Bidders will be required to pay INR300,000 (US$3,623) in processing fees. They also have to pay INR400,000 (US$4,831) per MW as a deposit. The winning bidder will be required to provide INR1.1 million (US$13,283) per MW as a performance bank guarantee.

The last date to submit the response is March 17, 2023. More information about this tender could be found on our Business Opportunity page here.