NTPC Issues Corrigendum for 1200 MW Solar Tender Issued Last Year

NTPC has issued a corrigendum for the IFB it issued last year for the selection of SPDs for 1200 MW solar projects to be set up under Open Category.

State-owned power utility NTPC Ltd. has issued its first corrigendum for the Invitation for Bids (IFB) it had issued last year for the selection of solar power developers for 1200 MW grid-connected solar PV projects to be set up near NTPC Generating Switchyards in Western Region under Open Category.

The selected SPDs shall implement the Grid Connected Solar PV Plant on a Build-Own-Operate (B-O-O) basis as detailed in RfS documents.

As per the corrigendum, the last date for bid submission is July 30, 2019, with the technical bid opening scheduled for July 31, 2019. The dates for financial bid submission and opening will be intimated to all qualified bidders.

NTPC had first issued its 1200 MW tender under open category on November 11, 2019, with the last date for bid submission scheduled for December 19, 2019.

As per the provisions of the amended IFB, all bidders must submit an Earnest Money Deposit of Rs 4 lakhs/MW of bid capacity. The old IFB required bidders to submit an EMD of Rs 10 lakh/MW of bid capacity.

To be eligible, the net worth of the bidder should be equal to or greater than the value calculated at the rate of Rs 1 crore of the project capacity as on the last date of preceding financial year or as on date of bid submission. And, must have a minimum annual turnover of Rs 50 lakhs/MW during the same period.

Additionally, the firms should have an Internal resource generation capability, in the form of Profit Before Depreciation Interest and Taxes (PBDIT) for a minimum amount of Rs 10 lakhs/MW of the quoted capacity. And, an in-principle sanction letter from the lending institutions/banks of the bidder, committing a Line of Credit for a minimum amount of Rs 12.5 lakhs/MW.

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