TCC seeks bids from developers for a 22 MW renewable energy project

20 May 2024 CW Team

Travancore Cochin Chemicals (TCC) is seeking bids from developers for a 22 MW renewable energy project to be implemented under a group captive model. The deadline for bid submissions is June 19, 2024.

Interested bidders are required to pay a tender fee of Rs 1,000 and an earnest money deposit (EMD) of Rs 500,000. The successful bidder will need to furnish a security deposit equivalent to 10% of the annual energy bill value to ensure contract performance, with the EMD being adjusted against this deposit.

The contract duration will span 20 years from the delivery date. Power can be sourced from operational, under-construction, or proposed solar, wind, or solar-wind hybrid power plants, including virtual hybrid power purchase agreements (PPAs).

Bidders must demonstrate ownership, installation, and commissioning of at least 50 MW of solar or wind projects in India by December 31, 2023, with at least one project having a minimum capacity of 20 MW. Submission of a list of commissioned projects, commissioning certificates, and other relevant details is mandatory.

Financial prerequisites include a positive net worth in the preceding financial year, as well as a minimum annual turnover of Rs 500 million from operations over the last three financial years.

In the event of non-compliance with order terms leading to procurement from an alternative source at a higher cost, the defaulting contractor is liable to compensate for resultant losses as stipulated in the PPA.

It is important to note that the Government of Kerala assumes no involvement, liabilities, obligations, or rights regarding this purchase order.

Previously, TCC had solicited bids from consultants to explore strategies for optimising power costs and conducting a feasibility study for green power project models.

(Source: Mercom)

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