The National Hydroelectric Power Corporation (NHPC) has floated an engineering, procurement, and construction (EPC) tender for development of 300 mw floating solar power project at Rengali Reservoir in Angul, Odisha, along with 220 kV transmission line. The NHPC had mandated an earnest money deposit of INR 100 million from each bidder and a performance security equal to 3 percent of the contract value from the winning bidder.
The chosen developer will be responsible for the project’s operation and maintenance (O&M) for a period of five years. Additionally, if the project is not completed within the stipulated time frame, the contractor will be liable for liquidated penalties amounting to INR 20,850 per mw per day of unfinished capacity. However, the total amount of liquidated damages should not exceed 10 percent of the contract value.
Moreover, in case of any deficit in power generation during the O&M term, compensation will be recovered by deducting up to 25 percent of the yearly contract value from the O&M contract payments. The bidders must have expertise in erecting solar projects with a minimum total installed capacity of 40 mw, including at least one project of 10 mw or more.
The minimum operating capital requirement for bidders is INR 1.7 billion. In addition, companies with a net worth of at least INR 1.5 billion of a single project and operating as a developer or EPC contractor in the process industry or infrastructure development for more than 10 years were  eligible to submit a bid. The project is expected to increase the share of renewable energy in Odisha’s power mix and generate revenue for the state’s exchequer.
