Onix Renewable floats EoIs for 1.9 GW solar projects in Maharashtra – EQ
In Short : Onix Renewable has issued Expressions of Interest (EoIs) for developing 1.9 GW of solar projects in Maharashtra. This initiative aims to enhance the state’s renewable energy capacity, supporting India’s push towards sustainable power solutions. The projects will contribute significantly to reducing carbon emissions and meeting the growing energy demands with clean, renewable sources.
In Detail : Onix Renewable has invited expressions of interest to develop 1,959 MW ground-mounted, fixed-tilt solar power projects across 252 locations in Maharashtra. Onix will supply solar modules and inverters for these projects. The deadline for bids submission is January 17, 2025.
According to the tender guidelines, bidders must submit an earnest money deposit of Rs 50,000 per MW. Selected bidders will be responsible for the design, engineering, procurement, supply, erection, testing, and commissioning of the solar projects under an engineering, procurement, and construction (EPC) model. Additionally, they must provide operation and maintenance services for three years. The projects are required to maintain a minimum 19 per cent capacity utilisation factor over a 25-year period and include interconnection at the 11 kV grid, along with the construction of necessary transmission lines and substation end works.
According to the eligibility guidelines, the EPC bidders, for projects up to 50 MW, must have completed at least one 5 MW ground-mounted solar project at a single location or 20 MW across multiple locations. For projects above 50 MW, bidders must have worked on 1 MW of ground-mounted solar for every additional 5 MW quoted, or alternatively, 3 MW for every additional 5 MW bid above 50 MW.
Financial requirements include an annual turnover of Rs 250 million for projects up to 50 MW, with an additional Rs 25 million for every 5 MW bid beyond this capacity. Bidders must also demonstrate a positive net worth over the past three financial years.
