DETAILED INVITATION FOR BID
Battery Energy Storage System for 8 MW Solar PV Project at
Chidiyatapu in A&N Islands
BIDDING DOCUMENT NO.: RE-CS-5727-004(B)-9
SECTION-I (IFB)
PAGE
6 OF 8
acceptable provided the Bidder further furnishes the following documents on substantiation
of its qualification:
(i) Copies of the unaudited unconsolidated financial statements of the Bidder along with copies
of the audited consolidated financial statements of its Holding Company.
(ii) Certificate from the CEO/CFO of the Holding Company, as per the format enclosed in the
bidding documents, stating that the unaudited unconsolidated financial statements form part
of the consolidated financial statement of the Holding Company.
In case where audited results for the last financial year as on date of techno-commercial bid
opening are not available, the financial results certified by a practicing Chartered Accountant
shall be considered acceptable. In case the Bidder is not able to submit the Certificate from
a practicing Chartered Accountant certifying its financial parameters, the audited result of
three (3) consecutive financial years preceding the last financial year shall be considered for
evaluating financial parameters. Further, a certificate would be required from the CEO/CFO
as per the format enclosed in the bidding documents stating that the financial results of the
company are under audit as on techno-commercial bid opening and the Certificate from a
practicing Chartered Accountant certifying the financial parameters is not available.
2.2 FINANCIAL CRITERIA FOR ASSOCIATE/ COLLABORATOR
2.2.1 The average annual turnover of its Associate/ Collaborator, should not be less than INR 180
Million (Indian Rupees One Hundred Eighty Million Only) or in equivalent foreign currency,
during the preceding three (3) completed financial years as on the date of techno-commercial
bid opening.
In case the Associate/ Collaborator does not satisfy the average annual turnover criteria,
stipulated at Clause 2.2.1 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 Associate/
Collaborator would be required to furnish along with its Techno-Commercial bid, a Letter of
Undertaking from its 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 Associate/ Collaborator
in case of award.
2.2.2 Net Worth of the Associate/ Collaborator as on the last day of the preceding financial year
should not be less than 100% (one hundred percent) of Associate/ Collaborator’s paid-up
share capital. In case the Associate/ Collaborator 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 a case, however the Net worth of the Associate/ Collaborator 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% (one 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: