ReNew, Hero among 31 in race for Madhya Pradesh solar rooftop tender

Thirty-one companies have participated in the 35 megawatts (MW) in the ongoing tender for Renewable Energy Service Company (RESCO) that will set up rooftop solar plants in Madhya. These include major players like Mundra Solar PV, Amplus Energy Solution, Sukhvir Agro Energy Ltd, Clean Max Environment Energy Solutions, Hero Rooftop Energy, ReNew Solar Energy and Azure Power.

The Madhya Pradesh government plans to implement 28 MW of Rooftop Solar projects through the RESCO model is in line with the Government of India’s target to achieve 40 GW of solar rooftop installation by 2022. 

Over 60 prospective bidders from across the country attended pre-bid meetings for the tender that is expected to be finalised next week. 

The projects will have subsidy from the Union and state governments; 25 per cent from the Union Ministry of New & Renewable Energy (MNRE) and 20 per cent from the Madhya Pradesh government. 

MP Urja Vikas Nigam has identified more than 250 project sites for the tender. The beneficiary consumers have pre-cleared the terms of the PPA. Projects are grouped based on the profile of ultimate paying entity, viz., central Govt. department/state government and the nature of end-use. This will facilitate the developer with large size and uniform credit profile of the procurers.

The tender includes features like part commissioning, deemed generation, payment security mechanism, payment for early termination, seasonally indexed performance monitoring, etc.