PSPCL Invites Bids for Procurement of 500 MW Solar Projects

Punjab State Power Corporation Limited has invited bids for the procurement of 500 MW of power from grid-connected ground-mount or floating solar projects established in Punjab.

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The last date for online submission of bids is September 12, 2023. Bidding opens on September 14, 2023.

The ceiling tariff for the tender is INR 2.75/Kwh.

A bidder can submit an offer for a maximum capacity of 2 MW. The total capacity offered must not be over 500 MW. The bidder that emerges successful is to sign a PPA for a period of 25 years with PSPCL within thirty days of getting the LoI.

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PSPCL mandates the employment of solar modules from ALMM (Approved List of Models and Manufacturers) as issued by the MNRE.

Earlier, PSPCL issued a tender for the procurement of 1000 MW of solar power via  competitive bidding. This will be followed by an e-reverse auction. The RfS is open to grid-connected solar photovoltaic power projects with a capacity of 5 MW and above, located anywhere in Punjab.

PSPCL has been a ‘distressed’ discom for the longest time, thanks to a combination of the state’s power policies and it’s own inefficiencies. Utility scale solar projects have been few and far between in Punjab, owing to high cost of land besides PSPCL’s own approach to solar until recently.