Adani will enter into power purchase agreement (PPA) with the selected bidders for a period of 25 years from the commercial operation date of the project.
Adani Electricity Mumbai Limited has issued a Request for Selection (RfS) for the purchase of power from 350 MW of grid-connected solar projects on a long-term basis through a competitive bidding process. This is to fulfil the Renewable Purchase Obligation (RPO) of Adani Electricity Mumbai.
The company also intends to procure additional 350 MW of power under Greenshoe option under the Domestic Content Requirement (DCR) category.
A bidder can submit multiple bids for a maximum cumulative capacity of 700 MW, including the capacity offered under the Greenshoe option. However, selection of the 350 MW capacity under Greenshoe will be at Adani Electricity’s discretion.
The company will enter into power purchase agreement (PPA) with the selected bidders for a period of 25 years from the commercial operation date of the project.
To be eligible to bid for the project, the net-worth of the bidder should be equal to or greater than ₹ 10.7 million (~$ 0.15 million) per MW of the quoted capacity for the financial year ending 2017-18.
This month, Torrent Power Limited (TPL), an electricity distribution licensee operating in the cities of Ahmedabad, Gandhinagar, Surat, Dahej SEZ and Dholera SIR in Gujarat, also issued RfS for the procurement of up to 300 MW of power from grid-connected solar photovoltaic power projects in Gujarat to fulfil its renewable purchase obligation.
Recently, Adani Green Energy announced the acquisition of a 51 per cent equity share capital in Kodangal Solar Parks Private Limited (KSPPL), comprising a 20 MW solar project which was incorporated back in August 2015.
