
CORRIGENDUM No. 1 TO INVITATION FOR BID
MODULE PACKAGE OF SOLAPUR
SOLAPUR IN MAHARASHTRA
BID DOCUMENT NO.: RE-CS-5749-004(M)-9(R)
Corrigendum
No. 1 to IFB
PAGE
3 OF
2
b. SPV based supply order for Roof-top solar power projects, which are grid connected,
shall also be considered eligible for QR purposes.
c. Bidder shall also be considered qualified in case, the award for executing the reference
works has been received by the bidder either directly from owner of plant or any other
intermediary organization. However, a certificate from such owner of Plant or the
intermediary organization shall be required to be furnished by the Bidder along with its
techno-commercial bid in support of its claim of meeting requirement stipulated above.
Further, certificate from owner of the plant shall also be furnished by the bidder along
with the techno-commercial bid for the successful operation as specified in Clause 1.1
& 1.2 above
2.0 FINANCIAL CRITERIA
2.1 The average annual turnover of the Bidder, should not be less than INR 55 Crores
(Indian Rupees fifty five Crores only) during the preceding three (3) completed financial
years as on date of techno-commercial bid opening.
In case a Bidder does not satisfy the annual turnover criteria, stipulated above on its
own, its Holding Company would be required to meet the stipulated turnover
requirements as above, provided that the Net Worth of such Holding Company as on
the last day of the preceding financial year is at least equal to or more than the paid-
up share capital of the Holding Company. In such an event, the Bidder would be
required to furnish along with its Techno-Commercial Bid, a Letter of Undertaking from
the Holding Company, supported by the Holding Company’s Board Resolution, as per
the format enclosed in the bid documents, pledging unconditional and irrevocable
financial support for the execution of the Contract by the Bidder in case of award.
2.2 Net Worth of the Bidder as on the last day of the preceding financial year should not
be less than 100% (hundred percent) of bidder’s paid-up share capital. In case the
Bidder does not satisfy the Net Worth criteria on its own, it can meet the requirement
of Net worth based on the strength of its Subsidiary(ies) and/or Holding Company
and/or Subsidiaries of its Holding companies wherever applicable. In such case,
however the Net worth of the Bidder and its Subsidiary(ies) and/or Holding Company
and/or Subsidiary(ies) of the Holding Company, in combined manner should not be
less than 100% (hundred percent) of their total paid up share capital. However
individually, their Net worth should not be less than 75% (seventy five percent) of their
respective paid up share capitals.
Net worth in combined manner shall be calculated as follows:
Net worth (combined) = (X1+X2+X3) / (Y1+Y2+Y3) X 100, where X1,X2,X3 are
individual Net worth which should not be less than 75% of the respective paid up share
capitals and Y1,Y2,Y3 are individual paid up share capitals.
2.3 In case the Bidder is not able to furnish its audited financial statements on standalone
entity basis, the unaudited unconsolidated financial statements of the Bidder can be
considered acceptable provided the Bidder further furnishes the following documents
on substantiation of its qualification: