FCI Aravali Gypsum and Minerals India Limited has announced its entry into the renewable energy sector by inviting developers for a solar power project in Rajasthan. The company has issued an expression of interest for setting up a 2.52 MW AC solar power plant at Bhawad in Jodhpur district under the build-own-operate model, with the selected developer responsible for design, financing, construction, operation and maintenance for 25 years.

The move aligns with India’s national target of achieving 500 GW of renewable energy capacity by 2030. Under the proposed power purchase agreement, the developer will supply electricity to FAGMIL at a fixed tariff of Rs 3.323 per unit. The plant is required to generate a minimum of 4.19 million units of electricity annually, ensuring reliable power supply over the contract period.

To qualify for the bidding process, developers must meet defined financial criteria. Eligible bidders should have a minimum net worth of Rs 50 million and an average annual turnover of at least Rs 100 million over the last three financial years, ensuring participation by financially robust and experienced players.

FAGMIL has outlined a detailed timeline for the EOI process. The notice was published on December 31, 2025, with a pre-bid meeting scheduled for January 5, 2026. Queries can be submitted until January 15, 2026, with responses to be issued by January 19. The final date for EOI submission is January 21, 2026, and bids will be opened on January 22, 2026.

As part of the bidding conditions, applicants must submit an earnest money deposit of Rs 200,000 through demand draft, bank guarantee or online transfer, with no exemptions allowed. The successful bidder will also be required to furnish a performance bank guarantee of about Rs 13.94 million to ensure adherence to project and performance obligations.

Once awarded, the developer is expected to commission the solar power plant within four months, marking FAGMIL’s first operational step into renewable energy generation.