Punjab Genco Limited, a wholly-owned company of Punjab Energy Development Agency (PEDA), floated a tender for 16 MW solar power projects in the Bhatinda district, Punjab. The winning bidder will be responsible for its maintenance for five years. The deadline to submit e-bids is 18 January 2022, and the bids will be opened on 20 January. The bidders will have to deposit Rs 16 million as an earnest money deposit and should also deposit a performance bank guarantee of 10% of the contract value within 15 days after receiving the work. The deadline to complete the work is ten months after signing the contract. For participating in the bidding, the bidder must be a manufacturer or system integrator and must have designed, manufactured, commissioned, erected, tested and supplied one project of 16 MW or two projects of 8 MW each or four projects of 4 MW each. The bidder should have operation and maintenance (O&M) experience of solar projects of 8 MW or more for at least two years in the past three years. The annual turnover of the bidder should be a minimum of Rs 800 million in any one of the last three years, while the net worth of the bidder must be Rs 2 billion in any of the past three financial years. The bidder will have to submit a solvency certificate from bankers, declaring that the company has the creditworthiness and financial standards to execute the projects. For any delays in the project, the bidder will have to pay 1% of the contract value for every week of delay, subject to a maximum of 5% contract value. If the projects are not commissioned in 13 months, the company can cancel the work order. The company said that the bidders must take note of the imposition of the basic customs duty (BCD) from April while placing their bids. The modules for these projects should be under the Approved List of Models and Manufacturers (ALMM), issued under the Ministry of New and Renewable Energy (MNRE). Image Source Also read: TSCL floats tenders to install 2 MWAC ground-mounted solar plant