India hunts for a developer for 500MW solar park in Tamil Nadu

The search is on until August 11.

The Tamil Nadu Energy Development Agency (TEDA) tendered a 500 MW solar park to be developed in Tamil Nadu. The bid-submission deadline is August 11, 2017, according to Mercom Capital Group. 

The developer will also be responsible for operation and maintenance (O&M) of the solar park for a period of 25 years. Limited Liability Companies (LLC) and Limited Liability Partnership (LLPs) are not eligible for participation in this tender.

Here's more from Mercom Capital Group:

The scope of work includes, acquiring the land for the solar park (2,000 acres), cleaning it, leveling it wherever considered desirable and allocating the plots for individual projects. The selected solar park developer will also develop an internal transmission system, maintain it, and connect it to the grid. The developer will also be responsible for providing water supply and basic drainage.

Land acquisition and financial closure must be complete within six months of the zero date, the date the agreement is signed between the selected developer and TEDA. The developer will have 15 months to complete construction of the pooling substation, land development and other facilities, and 18 months to erect internal transmission network and ensure grid connectivity.

A solar park developer will be selected based on the rate at which land is offered to project developers.

Mercom previously reported that in March TEDA invited an expression of interest (EoI) to develop a 500 MW solar park.

Mercom recently reported, The Maharashtra State Power Generation Company (MAHAGENCO) has invited an EoI to develop a 500 MW solar park in Dondaicha.

While solar parks have played an important role in lowering tariffs in recently conducted reverse auctions, Mercom’s research is finding that costs are actually increasing, squeezing the margins even more in a highly competitive auction market.