Module Package of Anta Solar Project in Rajasthan
BIDDING DOCUMENT NO.: RE-CS-5730-004(M)-9(R)
Section I (IFB),
Invitation For Bids
d. In case the award for the reference works has been received by the Bidder
either directly from owner of Solar PV plant or any other intermediary
organization, a certificate from such owner of Solar PV 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.
2.0 FINANCIAL CRITERIA
2.1 The average annual turnover of the Bidder, should not be less than INR 2370 Million
(Indian Rupees Two Thousand Three Hundred Seventy Million 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, 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: