Development of 100 MW Floating Solar PV Project at NTPC
Ramagundam in Telangana
Bidding Document No.: RE-CS-5747-004-9
Section-I
Invitation For Bids
(IFB)
g. Developer means an entity who has either executed or got executed the work/ project as
owner of industrial projects.
h. The execution of industrial project as EPC Contractor under Clause No. 1.3 means, such
EPC Contractor is responsible for all the activities i.e. Design/Engineering, Procurement,
Construction and Commissioning of a project/work.
2.0 FINANCIAL CRITERIA
2.1 The average annual turnover of the Bidder, should not be less than INR 2328 Million (Indian
Rupees Two thousand three hundred and twenty eight million only) or in equivalent
foreign currency during the preceding three (3) 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:
(a) Copies of the unaudited unconsolidated financial statements of the Bidder along with
copies of the audited consolidated financial statements of its Holding Company.
(b) 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.