g. For Clause 1.2, Applicant shall submit evidence of successful operation from intermediary
procurer/ procurer/Discom/ Electricity Board etc.
h. Developer means an entity who has either executed or got executed the work/ project as
owner of industrial projects.
i. 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 (with/without civil works) and Commissioning of a project/work.
j. The portion of work related to power transformer such as supply and or installation
mentioned at cl. no. 1.3 (b) can either be done by EPC contractor by themselves or by the
owner.
k. EPC projects with solar PV module supplied by developer/ owner as free issue item to EPC
contractor shall also be considered eligible for Route 1.1 of QR.
l. The block capacity shall be finalized based on project specific capacity. The financial figure
mentioned in Clause 1.3(a) is for a single block. For multiple blocks, the financial figure
shall be corresponding to number of blocks.
4.2.0 FINANCIAL CRITERIA
4.2.1 The average annual turnover of the Applicant, should not be less than INR 2000 Million
(Indian Rupees Two Thousand Million only or in equivalent foreign currency, during the
preceding three (3) financial years to the last date of submission of application for
enlistment.
In case a Applicant 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 Applicant would be required to furnish along with
its application for enlistment, a Letter of Undertaking from the Holding Company, supported
by the Holding Company’s Board Resolution, as per the format enclosed in the enlistment
documents, pledging unconditional and irrevocable financial support for the execution of
the Contract by the Applicant in case of award.
4.2.2 Net Worth of the Applicant as on the last day of the preceding financial year should not be
less than 100% (hundred percent) of Applicant’s paid-up share capital. In case the Applicant
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 Applicant 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.
4.2.3 In case the Applicant is not able to furnish its audited financial statements on standalone
entity basis, the unaudited unconsolidated financial statements of the Applicant can be
considered acceptable provided the Applicant further furnishes the following documents on
substantiation of its qualification: