State-run power producer Damodar Valley Corporation (DVC) has invited bids to set up 50 MWp (AC) of grid-connected solar plant capacity in Jharkhand—a state that is lagging woefully in the transition to renewable energy with around 38 MW of solar generation capacity towards its 2020 target of 2.65 GW.
The plant—to be developed in design-build-operate-transfer mode—shall come up at the power producer’s Panchet project in Dhanbad district. It must be designed for annual capacity utilization factor of minimum 19%.
DVC shall sign a 25-year power purchase agreement (PPA) with the selected developer, which must commission the plant within 12 months of signing the PPA.
Bidders are required to quote a fixed levellised tariff for the entire PPA period.
The project along with all its assets shall be transferred to DVC after completion of the entire PPA period. However, if any need arises to dismantle the project after 25 years, DVC will charge Rs 0.02/ KWh of power generated on monthly basis as security deposit.
To be eligible, the bidder should have installed cumulative grid-connected solar capacity of at least 10 MW in India, out of which at least one plant should be minimum 2 MW in capacity. The 2 MW plant should be at a single location and in successful operation for at least six months.
Further, the average annual turnover of the bidder for the best three years out of the last five financial years should be minimum Rs 184.59 crore, with current net working capital of minimum Rs 46.15 crore.