GSECL Invites Bids for 110 MW Floating Solar Project at Kadana Dam

Gujarat State Electricity Corporation Ltd. (GSECL) has issued a Request for Proposal (RFP) for the design, engineering, procurement, and construction (EPC) of a 110 MW AC Floating Solar Photovoltaic (FSPV) plant at Kadana Dam Reservoir in Mahisagar, Gujarat, including ten years of comprehensive operation and maintenance (O&M).

The tender fee is INR 17,700 (inclusive of 18 percent GST) and an Earnest Money Deposit (EMD) of INR 20.16 crore. The project timeline includes an 18-month EPC completion period followed by a decade-long O&M commitment, with a bid validity of 120 days from the price bid opening date.

The tender process begins on February 12, 2025, with a pre-bid meeting scheduled for March 6, 2025. The deadline for online bid submission is March 12, 2025, with physical submission due by March 17, 2025. Technical bids will be opened on March 18, 2025, while the date for the e-Reverse Auction is yet to be announced.

Eligible bidders must be legally incorporated entities in India and comply with the specified financial and technical qualification criteria. The financial criteria require bidders to have an average annual turnover of at least INR 336 crore over the past three financial years and a net worth of at least 100 percent of the paid-up share capital as of the last financial year.

For entities relying on subsidiaries or holding companies, the combined net worth must also meet or exceed 100 percent of their total paid-up capital, with no individual share being less than 75 percent. In the case of Joint Ventures (JVs), a maximum of two partners is allowed, with the lead partner required to meet the technical criteria and hold at least 50 percent ownership. Both JV partners must have a minimum turnover of INR 168 crore each, and their combined qualifications must meet all financial and technical benchmarks.

For bidders relying on holding company support, the parent entity must issue a letter of undertaking backed by a board resolution for unconditional financial support and submit a bank guarantee equivalent to 3 percent of the EPC price within ten days of receiving the Notification of Award.

Joint ventures must submit an agreement before bid submission, specifying each partner's role, responsibilities, and participation share, with each member accountable for the work corresponding to their expertise.

This floating solar project reflects Gujarat’s commitment to advancing renewable energy and sustainable infrastructure.