Tender to Develop Interstate Transmission System to Evacuate 40 GW of Renewables

PFC Consulting, a wholly owned subsidiary of Power Finance Corporation (PFC), has issued a tender to develop an Interstate Transmission System (ISTS) to evacuate 20 GW of electricity from the power zone Rajasthan Renewable Energy under Phase III, Part A1.

Similarly, in another tender, PFC Consulting has tendered to develop ISTS to evacuate 20 GW of power from Rajasthan Renewable Energy Zone under Phase III Part A3.

Transmission projects will be developed on a build, own, operate and transfer basis.

The deadline for submitting bids is April 18, 2022. Bids will be opened on the same day.

Projects must be completed within 18 months of the effective date.

The successful bidder will be required to provide an amount equivalent to ₹110 million (~$1.45 million) as Contract Performance Security within ten days from the date of issuance of the Letter of Intent for the transmission project under phase III, part A1.

For the transmission project under Phase III Part-A3, the successful bidder will be required to submit an amount equivalent to ₹200 million (~$2.64 million) a contract performance bond from the date issuance of the letter of intent.

Updated PFC-2

Under Part A1, interested bidders will be required to submit an amount of ₹44 million ($581,535) as an earnest money (EMD) to participate in the tender. Whereas, under Part A3, interested bidders will be required to submit an amount of ₹80 million ($1.06 million) as EMD to participate in the tender.

To participate in the bidding process, the bidder must have experience in developing projects in the infrastructure sector worth at least ₹5 billion (~$66.08 million). However, the capital expenditure of each project must not be less than ₹1 billion (~$13.22 million).

Alternatively, the tenderer must have experience in construction projects in the infrastructure sector. The Technically Assessed Entity must have received aggregate payments worth at least ₹5 billion (~$66.08 million) from its customers for fully completed construction works within the past five years. However, the payment received from each project must not be less than ₹1 billion (~$13.22 million).

The technically evaluated entity may be the bidding company or the leading member of a consortium or an affiliate or parent company of this bidding company or the leading member, as the case may be.

Bidder’s net worth must not be less than ₹2.5 billion (~$33.04 million) in any of the last three financial years. Additionally, the bidder’s net worth in any of the past three fiscal years must not be negative.

If the transport service provider does not obtain the date of commercial operation of the project, then the transport service provider must pay to the nodal agency an amount equivalent to 3.33% of the monthly transport costs applicable to the project. for each day of delay up to 60 days of delay and beyond, at the rate of 5% of the monthly transmission costs, as damages for this delay.

Last July, the Central Electricity Regulatory Commission granted a transmission license to Bikaner-II Bhiwadi Transco, a special purpose vehicle (SPV) of Power Grid Corporation of India, to establish a power system reinforcement program transmission for the evacuation of electricity from solar power areas in Rajasthan ( 8.1 GW) under Phase II-Part F, on the basis of construction, ownership, operation and maintenance.

Earlier, Power Finance Corporation announced the incorporation of five of its SPVs as wholly owned subsidiaries of PFC Consulting. Four of them were initially set up to strengthen the transmission systems for the evacuation of electricity from solar power areas in Rajasthan (8.1 GW each) under the second phase (Parts E , G, D and F) of their respective transmission programs.

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