HPCL seeks bids for 5 MW Solar Project in Uttar Pradesh; stock slips ~1%

28 Jun 2023 , 10:02 AM

Hindustan Petroleum Corporation Limited (HPCL) informed that the company is inviting bids for the engineering, procurement, and construction of a 5 MW grid-connected ground-mounted solar power project in Jhansi of Uttar Pradesh.

The company said that it expected the project to be completed within a period of 6 months of receipt of the order. The contractor must also provide comprehensive operation and maintenance services for a period of 10 years. 

The company said that the last day to furnish bids for the said projects is July 17, 2023. The bids will be opened on the same day.

In order to participate in the bid, the bidders must submit an earnest deposit money of Rs 4.25 million (~$51,825). As a performance bank guarantee, the successful bidder must submit 10% of the total value of the order. 

In order to be eligible for the bid, the bidder should have completed three similar works each valuing not less than Rs 130.20 million (~1.6 million), one similar work costing not less than Rs 260.40 million (~$3.2 million), or two similar works costing not less than Rs 162.80 million (~$2 million).

As per the company, the bidders should have registered an annual average turnover of Rs 9.77 crore during the preceding three years. 

The chosen contractor must utilize mono-crystalline solar panels that are included in the Ministry of New and Renewable Energy’s authorized catalogue of approved models and manufacturers, with a maximum capacity of 540 MW.

At around 9.58 AM, HPCL was trading 1.44% lower at Rs 267.25, against the previous close of Rs 271.15 on NSE.

For feedback and suggestions, write to us at [e-mail]