Maharashtra solicits bids for 500 MW of solar projects.

13 Jan 2023 CW Team

The bid processing fee will be Rs 10,000 (or $122.45)/MW, plus 18 per cent GST. As an earnest money deposit, they must also provide Rs 100,000 ($1,225)/MW for each project. As a performance bank guarantee, the winning bidder will be required to provide Rs 500,000 ($6,112)/MW two days prior to signing the power purchase agreement (PPA).

MSEDCL and the selected bidders will enter into a PPA to purchase solar power for 25 years beginning with the projects' commercial operation date. In order to expedite commissioning and reduce technology risk, the projects can only use commercially established technologies. The project must use indigenously produced solar modules from the Ministry of New and Renewable Energy's Approved List of Models and Manufacturers.

Bidders' last-year net worth should not be less than Rs 10 million ($122,448) per megawatt of the quoted capacity.Not eligible are projects in the process of construction, projects that have not yet been commissioned, and projects that have been commissioned but do not have a long-term PPA with any agency and only sell power for a short period of time.

During the previous fiscal year, they should have had a minimum annual turnover of Rs 2.5 million, or $30,612, per MW of the quoted capacity. Bidders should also be able to generate profit before depreciation, interest, and taxes equal to at least Rs 1 million ($12,245) per megawatt (MW) of the quoted capacity on the last day of the previous fiscal year. In order to meet the working capital requirement, they should also have lending institutions' approval for a Line of Credit with a minimum amount of Rs 1.25 million ($15,306) per MW of the quoted capacity.

The energy delivery to MSEDCL's 11/22 kV level substation should be planned into the project. The winning bidder will be responsible for the energy accounting infrastructure and power transmission to the interconnection point. Over the course of a year, the declared capacity utilisation factor (CUF) should never fall below 19 per cent. To achieve CUF in the range of 10 per cent of the declared value during the PPA tenure, the winning bidder must maintain generation.

The central government will provide MSEDCL with 30 per cent of the project's cost as central financial assistance. Not eligible are projects in the process of construction, projects that have not yet been commissioned, and projects that have been commissioned but do not have a long-term PPA with any agency and only sell power for a short period of time.

Under Component C of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) program, the Maharashtra State Electricity Distribution Company (MSEDCL) has invited bids to acquire 500 MW of power from decentralised solar projects. The renewable energy service company (RESCO) model will be utilised in the development of the projects. The online bids must be submitted by February 13, 2023. For the tender, MSEDCL has established a ceiling tariff of Rs 3.10 ($0.038) per kWh. The bid processing fee will be Rs 10,000 (or $122.45)/MW, plus 18 per cent GST. As an earnest money deposit, they must also provide Rs 100,000 ($1,225)/MW for each project. As a performance bank guarantee, the winning bidder will be required to provide Rs 500,000 ($6,112)/MW two days prior to signing the power purchase agreement (PPA). MSEDCL and the selected bidders will enter into a PPA to purchase solar power for 25 years beginning with the projects' commercial operation date. In order to expedite commissioning and reduce technology risk, the projects can only use commercially established technologies. The project must use indigenously produced solar modules from the Ministry of New and Renewable Energy's Approved List of Models and Manufacturers. Bidders' last-year net worth should not be less than Rs 10 million ($122,448) per megawatt of the quoted capacity.Not eligible are projects in the process of construction, projects that have not yet been commissioned, and projects that have been commissioned but do not have a long-term PPA with any agency and only sell power for a short period of time. During the previous fiscal year, they should have had a minimum annual turnover of Rs 2.5 million, or $30,612, per MW of the quoted capacity. Bidders should also be able to generate profit before depreciation, interest, and taxes equal to at least Rs 1 million ($12,245) per megawatt (MW) of the quoted capacity on the last day of the previous fiscal year. In order to meet the working capital requirement, they should also have lending institutions' approval for a Line of Credit with a minimum amount of Rs 1.25 million ($15,306) per MW of the quoted capacity. The energy delivery to MSEDCL's 11/22 kV level substation should be planned into the project. The winning bidder will be responsible for the energy accounting infrastructure and power transmission to the interconnection point. Over the course of a year, the declared capacity utilisation factor (CUF) should never fall below 19 per cent. To achieve CUF in the range of 10 per cent of the declared value during the PPA tenure, the winning bidder must maintain generation. The central government will provide MSEDCL with 30 per cent of the project's cost as central financial assistance. Not eligible are projects in the process of construction, projects that have not yet been commissioned, and projects that have been commissioned but do not have a long-term PPA with any agency and only sell power for a short period of time.

Equipment

06 Aug 2026

BKT Unveils Immersive Tyre Installation at Mumbai Airport

Balkrishna Industries (BKT), a global off-highway tyre leader with a growing presence in India's on-highway tyre market, has unveiled a distinctive brand installation at Mumbai International Airport (MIAL)'s T2 elevated road underpass. The initiative, inspired by BKT Tyres' ‘Elevate Your Drive’ philosophy reflects the company's evolution into a broader mobility brand by highlighting its portfolio across agriculture, construction, mining, earthmoving, commercial vehicles, two-wheelers and passenger vehicles. The launch of the installation marks a significant moment as BKT expands its footpr..

Real Estate

06 Aug 2026

Grovy India raises Rs 150 million through preferential issue

BSE-listed Grovy India has raised Rs 150.1 million through a preferential issue of equity shares to support its expansion plans in the South Delhi real estate market.The company's board-approved preferential issue committee allotted 4.17 million equity shares of Rs 10 face value, raising Rs 150.1 million. Following the allotment, the company's paid-up equity share capital has increased to Rs 175.1 million, comprising 17.51 million equity shares.Grovy India said the participation of promoters and investors reflects confidence in its execution capabilities, growth strategy and position in South ..

Infrastructure Energy

06 Aug 2026

K2 Infragen secures BBB- rating for Rs 2 billion facilities

K2 Infragen has secured an ACUITE BBB- rating with a Stable outlook for its long-term bank facilities and an ACUITE A3 rating for its short-term facilities from Acuité Ratings & Research, covering total bank facilities of Rs 2 billion.The rating comprises Rs 1.27 billion of long-term borrowings and Rs 730 million of short-term working capital facilities.According to the rating agency, the investment-grade rating reflects K2 Infragen's business risk profile, revenue growth, execution capabilities and financial discipline. The assessment is also supported by the company's order book, which ..