Karnataka releases RFP for 130MW projects
Karnataka is the latest state to release an RFP for allocation of projects totaling 130 MW. Karnataka following the footsteps of Tamil Nadu, Andhra Pradesh, Rajasthan, Bihar and Odisha in releasing an RFP.
The tariff as notified by the Karnataka Electricity Regulatory Commission (KERC) :
Solar PV – Rs. 14.50/kWh
Solar Thermal – Rs. 11.35/kWh.
Pre-bid meeting will take place on March 12, 2013 and due date for bid submission would be March 28, 2013. The bids will be openon April 1, 2013.
Few of the salient features:
- The objective is to meet the Renewable Purchase Obligations (RPO) for the state.
- The 130 MW projects could be Solar PV or Solar Thermal.
- A bidder can bid for any number of projects, but the total allocation will be limited to 10 MW per bidding group.
- Size of an individual project – 3 MW minimum and 10 MW maximum.
- Grid Connectivity– The Developer will be responsible for the power evacuation which shall be at 33/66/110 KV. The approval for which should be obtained within 180 days of signing the PPA from Karnataka Power Transmission Company Limited/ ESCOM.
- Distinct Projects may be in the same location, but each project should have separate boundaries.
- The land can be changed after RFP submission.
- Bid security amount is Rs. 20,00,000(Twenty Lakhs) per MW.
- Net worth criteria is Rs. 2 Crore/MW
- Shareholding commitments In case the Selected Bidder is a Consortium, Members of the Consortium shall collectively hold at least 51% of subscribed and paid up equity share capital of the SPV at all times until third anniversary of the Commercial Operations Date of the Project. Lead Member shall have 26% shareholding of the SPV until third anniversary of the Commercial Operations Date of the Project.
- Financial Closure – 180 days from the date of signing the Power Purchase Agreement (PPA).
- Commissioning Time period – Within 12 months for PV and 24 months for CSP from the date of signing of PPA.