NMMC Invites Bidders for 100 MW Floating Solar Project & 1.5 MW Hydro Electric at Morbe Dam

Navi Mumbai Municipal Corporation(NMMC) Invites Bidders for 100 MW Floating Solar Project & 1,5 MW Hydro Electric at Morbe Dam
Navi Mumbai Municipal Corporation(NMMC) Invites Bidders for 100 MW Floating Solar Project & 1,5 MW Hydro Electric at Morbe Dam

Navi Mumbai Municipal Corporation (NMMC) has announced an exciting opportunity for interested bidders to participate in the development of renewable energy projects at Morbe Dam. The project entails the establishment of a Hydro Electric Power Plant with a capacity of 1.5 MW and a Floating Solar PV Power Plant with a capacity of 100 MW. This initiative aligns with NMMC’s commitment to harness clean energy sources and contribute to sustainable development. Here are the key details:

Key Points:

  • Project Details:
    • Development of a Hydro Electric Power Plant with a capacity of 1.5 MW and a Floating Solar PV Power Plant with a capacity of 100 MW at Morbe Dam.
    • The Floating Solar PV Power Plant will be implemented in two phases: 60 MW (Phase 1) and 40 MW (Phase 2).
  • Equity Participation:
    • NMMC intends to hold a minimum equity of 26% in the Special Purpose Vehicle (SPV) company executing the project, with a provision to increase it up to 49%.
    • Bidders are required to consider NMMC’s equity holding of 26% and their own equity at 74% while calculating the bidding parameters, particularly the Power Tariff.
  • Electricity Generation Targets:
    • The project aims to generate 10.80 Million Unit Alternate Current (AC) annually from the Hydroelectric plant and 208.8 Million Unit Alternate Current (AC) from the Floating Solar energy project (125.28 MU from Phase 1 and 83.52 MU from Phase 2).
  • Tender Schedule:
    • Publish Date: 23-Mar-2024 06:00 PM,
    • End of Sale of Tender: 02/04/2024, 15:00 Hrs.
    • Last date of Submission of Tender: 02/04/2024, 15:00 Hrs.
    • Bid (Technical) Opening: 03/04/2024, 16:00 Hrs. (if possible)
    • E-Reverse Auction: To be communicated later
  • Financial Requirements:
    • Cost of RFP Document: INR 5,900/-
    • Earnest Money Deposit (EMD): INR 50,00,000 (Online) and INR 2,00,00,000 (Bank Guarantee)
    • Submission of Performance Security (PS): INR 32.5 Cr. (Bank Guarantee) within 30 days of issuance of Letter of Award (LOA)
  • PPA Signing:
    • PPA signing to be completed within 30 days from the date of issue of LOA.

Detailed tender specifications and submission guidelines are available on https://mahatenders.gov.in official e-procurement platform of NMMC. Interested parties are encouraged to participate in this significant initiative.