Uttar Pradesh Floats Tender for 75 MW of Grid-Connected Solar Projects

Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) has floated an e-tender for setting up a 75 MW grid-connected solar PV power project in UP solar park, Uttar Pradesh. 

As part of the Government of India’s target to achieve a cumulative capacity of 100 GW Solar PV installations by the year 2022, UPNEDA wishes to invite proposals for setting up of grid-connected Solar PV project at UP Solar Park, Uttar Pradesh on “Build Own Operate” (BOO) basis for an aggregate capacity of 75 MW.

The bidders will be selected by UPNEDA based on this RfS, shall set up Solar PV Projects on Build Own Operate (BOO) basis under the provisions of this RfS document and standard Power Purchase Agreement (PPA). UPPCL shall enter into PPA with successful bidders for 25 years from the date as per the provisions of PPA. 

The maximum tariff payable to the Project Developer is fixed at Rs 3.00/ kWh for 25 years. This shall be inclusive of all statutory taxes, duties, levies, cess if applicable as on the last date of bid submission. These projects will be developed at Makrechaa and Banghauli villages (45 MW) and Tikar village (30 MW) in the Jalaun district. 

The last date to submit their bids is April 7, 2021. The project should be commissioned within 15 months from signing the power purchase agreement (PPA).

To find themselves financially eligible, the Net Worth of the bidders should be equal to or greater than Rs 70 lakh per MW of the quoted capacity, as on the last date of the previous Financial Year.

The Bidder may indicate regarding the selection of technology and its details at the time of submission of bids in the prescribed format. However, the Successful Bidder has to confirm the selection of technology in line with the above at the time of Financial Closure.

Any foreign company participating on a standalone basis and its selection as a successful Bidder have to form a “Special Purpose Vehicle” (SPV), i.e. an Indian Company registered under the Companies Act, 2013 as its subsidiary Company, with at least 76 percent shareholding in the SPV, before signing of PPA.

Selected bidders shall submit a Performance Guarantee for a value of Rs. 10.5 Lakh/ MW within 30 days of issue of Letter of Intent (LoI) or before the signing of the PPA, whichever is earlier. And, UPNEDA will release the PoI within 45 days after the Commissioning date.

Uttar Pradesh is promoting solar energy in the state aggressively, as recently in January 2021, Adani Green Energy Limited (AGEL) had commissioned a 25 MW solar power plant in Chitrakoot, Uttar Pradesh. The firm had executed a Power Purchase Agreement (PPA) with the Noida Power Company Limited (NPCL) at Rs 3.08/kWh for the procurement of power generated by the solar plant.

Not only that but, there was one more 75 MW of solar project was commissioned in Khera village, Budaun District, UP by ThomasLloyd, an investor in Gurugram based SolarArise.