Maharashtra State Power Generation Company (Mahagenco) has once again extended the deadline for its 600 MW solar power project. This is the fourth time the deadline has been pushed back. The company has been struggling to attract bidders since it issued invitations in October 2023.
The last deadline, which was initially set for May 28, has now been extended to June 10. Despite extending the deadline for bid submission three times, Mahagenco has not been able to attract any bidders. The winning bidder will be responsible for acquiring the necessary land, obtaining the required permits, and setting up the power evacuation system for the project.
The project is part of a larger plan by Mahagenco to install 8,000 MW of renewable energy in Maharashtra by 2030. The goal is to reduce carbon emissions from thermal power projects that rely on coal. The project's minimum and maximum sizes were set at 50 MW and 200 MW, respectively.
As per reports, the delay was not due to the company but to other state government departments. The winning bidder has to comply with all regulations related to land purchase and its use for solar energy projects. This process involves several government departments and has taken some time.
The model code of conduct for the Lok Sabha elections had kept government employees on election duty for the past three months. This has further delayed the process. However, about eight companies have purchased documents for bidding, as per a report by HT.
A tender price of INR 11,800 and a registration fee of INR 5,000 are required of all bidders. Additionally, they have to deposit INR 100,000 as earnest money for each MW of the quoted capacity.
They should have the ability to create ground-mounted solar projects with a cumulative capacity of at least 30% of the stated capacity or higher. Alternatively, they should have the ability to execute EPCs. However, at least one project must have a capacity of 25 MW or more at one location.
Before the deadline for bid submission, the reference project capacity has to have been functioning satisfactorily for six months. The bidders' average yearly turnover over the previous three fiscal years should have been at least INR 250 lakh per MW. The bidders' net worth should have been at least INR 25 lakh per MW as of the last day of the preceding fiscal year.
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