INVITATION FOR BID

Selection of Solar Power Developers for 1200 MW of Grid-Connected Solar

PV Power Projects

RfS No.: RE-CS-0000-BOO-4

Invitation for Bids

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NTPC LIMITED

(A GOVERNMENT OF INDIA ENTERPRISE)

RENEWABLE ENERGY – CONTRACTS SERVICES, NOIDA.

INVITATION FOR BIDS (IFB)

FOR

SELECTION OF SOLAR POWER DEVELOPERS FOR 1200 MW GRID CONNECTED

SOLAR PHOTO VOLTAIC PROJECTS UNDER OPEN CATEGORY

(International Competitive Bidding)

IFB No.: RE-CS-0000-BOO-4 Date: 10.11.2018

RfS Document No: RE-CS-0000-BOO-4

1.0 NTPC invites online bids from eligible bidders on Two Stage Bidding Basis (i.e.

Stage-I: Technical Bid and Stage-II: Financial Bid) with Reverse Auction for Selection

of Solar Power Developers (SPDs) for 1200 MW of Grid Connected Solar PV Projects

with ISTS Connectivity through NTPC Generating Switchyards in Western Region

under OPEN Category as briefly mentioned hereinafter.

2.0 The Selected SPDs shall implement the Grid Connected Solar PV Plant on B-O-O

basis as detailed in RfS documents.

3.0 Detailed Terms & Conditions are given in the Request for Selection (RfS) document No.

RE-CS-0000-BOO-4, which are available for examination and downloading at e-tender

Portal (as specified in this IFB) as per the following schedule:

IFB No.

RE-CS-0000-BOO-4

IFB Date

10.11.2018

Registration and Downloading of RfS

document Date & Timing

From 12:00 Hrs (IST) on 13/11/2018

To 17:00 Hrs (IST) on 28/11/2018

Last date for receipt of queries on RfS from

the prospective bidders and Pre-

bid Conference Date and time

Venue of Pre bid conference

On 03/12/2018 at 11:00 Hrs (IST)

Engineering Office complex, NTPC

Ltd.,A-8A,Sector 24, NOIDA, UP

201301

Last Date and Time of Receipt of Stage I:

Technical Bid and Offline Documents

On 19/12/2018 at 17:00 Hrs (IST)

Stage I: Technical Bid Opening Date &

Time

On 20/12/2018 at 11:00 Hrs (IST)

onwards

Last Date and Time of Receipt of Stage II:

Financial Bid and Offline Documents

To be intimated to all qualified bidders

separately

INVITATION FOR BID

Selection of Solar Power Developers for 1200 MW of Grid-Connected Solar

PV Power Projects

RfS No.: RE-CS-0000-BOO-4

Invitation for Bids

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Stage II: Financial Bid Opening Date &

Time

After submission of Financial Bid

Date and Time of start of Reverse Auction

To be intimated to bidders separately

4.0 All bids must be accompanied by Earnest Money Deposit (EMD) @ Rs.10 Lakh/MW

in the form as stipulated in the RfS Documents.

ANY RESPONSE TO RFS NOT ACCOMPANIED BY AN ACCEPTABLE BID

SECURITY IN A SEPARATE SEALED ENVELOPE SHALL BE REJECTED BY

NTPC AS BEING NON-RESPONSIVE AND RETURNED TO THE BIDDER WITHOUT

BEING OPENED.

5.0 Qualifying Requirements for Bidders:

The Bidder should be a Company (Bidding Company) or a Consortium of Companies

(Bidding Consortium) with one of the Companies acting as the Lead Member of the

Bidding Consortium. Short-listing of Bidder for opening of Financial Bid will be based on

meeting the Qualification Requirements specified below:

5.1 Companies Eligible for Participation:

(i) Companies incorporated in India under the Companies Act, 1956 or Companies

Act, 2013 as applicable;

(ii) A foreign company can also participate on standalone basis or as a member of

consortium at RfS stage. But before signing of PPA, keeping the original

shareholding unchanged it has to form an Indian Company registered under the

Companies Act, 1956 or Companies Act, 2013 as applicable;

(iii) A Bidding Consortium (that may/ may not have a foreign company) can participate

at RfS stage;

5.2 Financial Criteria

(i) Net Worth

The Net Worth of the bidder should be equal to or greater than the value calculated at

the rate of Rs.1.00 Crore or equivalent US$ per MW (as per Note 1 below) of the

project capacity as on last date of preceding financial year. The computation of Net

Worth shall be based on unconsolidated audited annual accounts of the bidder.

The networth to be considered for this clause will be the total networth as calculated in

accordance with the Companies Act.

(ii) Liquidity:

INVITATION FOR BID

Selection of Solar Power Developers for 1200 MW of Grid-Connected Solar

PV Power Projects

RfS No.: RE-CS-0000-BOO-4

Invitation for Bids

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In order to ascertain that the Bidder has sufficient means to manage the fund

requirements for the Project, the Bidder shall be required to demonstrate at least one

of the following parameters:

a. A minimum annual turnover of Rs.50 lakhs/MW of the quoted capacity during the

preceding financial year. It is hereby clarified that “Other Income” as indicated in the

annual accounts of the Bidder shall not be considered for arriving at the annual

turnover.

b. Internal resource generation capability, in the form of Profit Before Depreciation

Interest and Taxes (PBDIT) for a minimum amount of Rs.10 Lakhs/MW of the

quoted capacity, as on the last date of preceding financial year.

c. In-principle sanction letter from the lending institutions/banks of the Bidder,

committing a Line of Credit for a minimum amount of Rs.12.5 Lakhs/MW of the

quoted capacity, towards meeting the working capital requirement of the project

quoted under this RfS. Such letter can also be obtained by the Affiliate(s) of the

Bidder.

The net worth and liquidity parameters to be considered for the above purpose will be

the cumulative net-worth and liquidity parameters of the Bidding Company or

Consortium together with the Net Worth and liquidity parameters of those Affiliates of

the Bidder(s) that undertake to contribute the required equity funding and performance

bank guarantees in case the Bidder(s) fail to do so in accordance with the RfS.

For the purposes of meeting financial requirements, only unconsolidated audited

annual accounts shall be used. However, audited consolidated annual accounts of the

Bidder may be used for the purpose of financial requirements provided the Bidder has

at least twenty six percent (26%) paid up share capital in each Company whose

accounts are merged in the audited consolidated account.

In case where audited results for the last financial year as on date of technical 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 the financial year 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 at Appendix-A to Format 6.6

in the RfS documents stating that the Financial results of the company are under audit

as on technical bid opening date and the Certificate from a practicing Chartered

Accountant certifying the financial parameters is not available.

A foreign company can participate on standalone basis or as a member of consortium

at RfS stages. In case of foreign company participating on standalone basis and its

selection as successful bidder, it has to form an Indian Company registered under the

Companies Act, 2013 as its fully owned subsidiary Company (i.e. 100% subsidiary)

INVITATION FOR BID

Selection of Solar Power Developers for 1200 MW of Grid-Connected Solar

PV Power Projects

RfS No.: RE-CS-0000-BOO-4

Invitation for Bids

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before signing of PPA. In case a Foreign Company is selected as the successful

bidder, it shall comply with all the laws and provisions related to Foreign Direct

Investment in India.

In case the foreign company participating as a member of consortium, the clause (iii)

as below shall be applicable.

The Bidder may seek qualification on the basis of financial capability of its Parent and /

or its Affiliate(s) for the purpose of meeting the Qualification Requirements as per (i)

and (ii) above. In case of the Bidder being a Bidding Consortium, any Member may

seek qualification on the basis of financial capability of its Affiliate(s). In such cases,

the Bidder shall be required to submit Board Resolutions from the Parent Company

and/or the Affiliates undertaking to contribute the required equity funding and

performance bank guarantees in case the Bidder(s) fail to do so in accordance with the

RfS.

Note 1. : For the Qualification Requirements, if data is provided by the Bidder

Company in foreign currency, equivalent rupees of Net Worth will be calculated using

bills selling exchange rate (card rate) USD / INR of State Bank of India prevailing on

the date of closing accounts for the respective financial year as certified by the bidder’s

banker. For currency other than USD, bidders shall convert such currency into USD as

per exchange rates certified by their banker prevailing on the relevant date and used

for such conversion.

(iii) For Bidding Consortium:

If the response to RfS is submitted by a Consortium the financial requirement as per

clause 3.8.2 (i) and (ii) above shall be met individually and collectively by all the

Members in the Bidding Consortium. The financial requirement as per clause 3.8.2 (i)

and (ii) above to be met by each Member of the Consortium shall be computed in

proportion to the equity commitment made by each of them in the Bidding Consortium.

For computation of Net Worth of members, methodology as provided in clause 3.8.2 (i)

above shall be followed.

Any Consortium, if selected, shall for the purpose of sale of power to NTPC,

incorporate a Project Company with equity participation by the Members in line with

Consortium Agreement (to be submitted along with RfS) before signing the PPA with

NTPC i.e. the Project Company incorporated shall have the same Shareholding

Pattern as given at the time of RfS. This shall not change till the signing of PPA and

the Controlling Shareholding (held by the Lead Member holding more than 50% of the

voting rights) shall not change from the RfS application date till one year after the

Commercial Operation Date (COD) of the Project. However, in case of any change in

the shareholding of the other shareholders (other than the Controlling Shareholder

including Lead Member) after signing of PPA, the arrangement should not change the

status of the Controlling Shareholder and the lead member in the Project Company at

INVITATION FOR BID

Selection of Solar Power Developers for 1200 MW of Grid-Connected Solar

PV Power Projects

RfS No.: RE-CS-0000-BOO-4

Invitation for Bids

PAGE

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least up to one year after the COD of the Project. Further, such change in

shareholding would be subject to continued fulfillment of the financial and technical

criteria, by the Project Company.

5.3 Other Criteria

The Bidder or any of its Affiliates should not be a wilful defaulter to any lender, and that

there is no major litigation pending or threatened against the Bidder or any of its

Affiliates which are of a nature that could cast a doubt on the ability or the suitability of

the Bidder to undertake the Project. The Bidder shall submit an undertaking to this

effect as per the Format- 6.6A.

6.0 NTPC reserves the right to reject any or all bids or cancel/withdraw the Invitation for

Bids without assigning any reason whatsoever and in such case no bidder / intending

bidder shall have any claim arising out of such action.

7.0 Interested parties are required to get registered with M/s Telecommunication

Corporation of India Ltd. (TCIL) website https://www.tcil-india-electronictender.com (if

not registered already). RfS document is available for download, free of cost from the

web-site of TCIL at https://www.tcil-india-electronictender.com with Tender Search

Code NTPC-2018-TN000014. Interested parties are required to ensure that they have

downloaded the official copy of RfS Documents against Tender Search code- NTPC-

2018-TN000014 from abovementioned website of TCIL after getting registered with

TCIL without which they will not be able to submit their bids. For technical assistance

call TCIL Helpdesk at 011-26241790..

Note: No hard copy of RfS Documents shall be issued.

7.1 Issuance of RfS Documents to any Bidder shall not construe that such Bidder is

considered to be qualified. Bids shall be submitted online. Bidder shall furnish Bid

Security, Integrity Pact, Board Resolution, Pass Phrase and other documents

separately offline as detailed in RfS Documents before the stipulated bid submission

closing date and time at the address given below.

8.0 Transfer of RfS Documents purchased by one intending Bidder to another is not

permissible.

9.0 Address for communication:

AGM (RE-CS) / Manager (RE-CS)

NTPC Limited

Renewable Energy - Contract Services, Engineering Office complex, NTPC Ltd.,

Room No. 220, EOC Annexe, (R&D Building), A 8A, Sector 24, NOIDA, UP 201301

on Telephone No. +91-120-2410722, +91-120-4947382, Fax: +91-120-2410251;

Email:skdas01@ntpc.co.in/ pranaysharma@ntpc.co.in or at office on all working days.

Corporate Identification Number: L40101DL1975GOI007966, Website: www.ntpc.co.in