With a bidding range of 10MW to 250MW, this initiative sets the groundwork for a competitive and eco-friendly bidding environment.
GRIDCO Limited has announced a tender for the procurement of 500 MW of solar power. This tender is based on tariff-based competitive bidding and includes an interesting greenshoe option, providing a special chance for those passionate about renewable energy.
This tender is active from April 1, 2025, until March 31, 2030. Participants interested in this opportunity are required to pay an earnest money deposit (EMD) of Rs. 5 lakhs per MW, demonstrating their dedication to the bid. A contract performance guarantee of Rs. 10 lakhs per MW is also necessary.
The deadline for bid submission is January 16, 2024, at 1400 hrs, with the tender documents set to be revealed at 1700 hrs on January 17, 2024.
The tender stipulates a minimum bid quantity of 10 MW and a maximum limit of 250 MW. This range is designed to foster participation from a diverse group of companies, both well-established and up-and-coming, in the renewable energy sector.
In an initial public offering (IPO), a greenshoe option, also known as an over-allotment option is a provision that gives the underwriter the flexibility to sell more shares to investors than the number originally set by the issuer. This option is typically exercised when there is higher-than-anticipated demand for the security being issued.
GRIDCO’s proactive stance and dedication to a greener, sustainable future are indicative of a significant shift towards renewable energy. This initiative sets the groundwork for a competitive and eco-friendly bidding environment.
The Grid Corporation of Odisha, commonly known as GRIDCO, was established as a Public Sector Undertaking by the Government of Odisha on April 20, 1995, under the Companies Act of 1956. The organisation began its operations as a subsidiary of the Odisha Electricity Regulatory Commission, which is a power utility under the Government of Odisha. GRIDCO is primarily engaged in the business of electricity transmission and bulk supply, along with other associated activities.