Madhya Pradesh government on April 9 said it has invited bids for 25 MegaWatt (MW) rooftop solar projects for industrial units in the state. The tenders have been invited by state-owned Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL) and the last day to submit financial bids is May 10, 2019.
"Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL) has... invited bids for 25 MW solar rooftop projects under RESCO mode for industries in Madhya Pradesh," MPUVNL said in a statement.
Around 34 companies from across the country attended a meeting organised here to discuss parameters related to the projects with officials of Madhya Pradesh government, World Bank and International Solar Alliance (ISA).
Around 700 industries in Mandideep industrial area near Bhopal have been identified for the project.
The project is being implemented jointly with Madhya Pradesh Industrial Development Corporation (MPIDC), which has also provided land on lease to the industries, MPUVNL said.
It further said that "MPIDC will be a co-signatory to the Power Purchase Agreement (PPA) and is offering payment assurance for the developer, and there is no subsidy in the project".
However, the World Bank (WB) through State Bank of India (SBI) and Asian Development Bank (ADB) through Punjab National Bank (PNB) are providing concessional loan to successful bidders under the project, MPUVNL said, adding that concessional funding from Indian Renewable Energy Development Agency (IREDA) is also available.
"Rooftop solar project under RESCO (Renewable Energy Service Company) model is an attractive option for industries to implement and achieve significant savings on their electricity bills.