ONGC seeks bids for 1 GW wind-solar hybrid projects
POWER & RENEWABLE ENERGY

ONGC seeks bids for 1 GW wind-solar hybrid projects

Oil and Natural Gas Corporation (ONGC) has issued a tender for the development of captive ISTS-connected, co-located wind-solar hybrid power projects with a total capacity of 1,000 MW (500 MW solar and 500 MW wind) across India. The projects will require operation and maintenance (O&M) for ten years.

The deadline for bid submissions is October 23, 2024, with bids set to be opened the following day. Projects must be commissioned within 36 months of receiving the letter of award.

Bidders are required to provide a bank guarantee of Rs 80 million. The successful bidder must also submit a security deposit-cum-performance bank guarantee equivalent to 10% of the annualized contract value minus the O&M costs.

Additionally, a bank guarantee equal to 10% of the annual O&M charges for each year must be provided one month before the project's commissioning and prior to the start of any chargeable O&M services.

Bidders should ensure their submissions are comprehensive and fully comply with ONGC's terms, conditions, and bid evaluation criteria. Non-compliance may result in bid rejection, emphasizing the need for meticulousness in the bidding process.

In a related development, ONGC has announced its plan to acquire PTC Energy (PEL), a subsidiary of PTC India, in a transaction valued at Rs 9.25 billion. PEL has commissioned seven wind power projects in Andhra Pradesh, Karnataka, and Madhya Pradesh, totalling 288.8 MW.

ONGC is committed to expanding its renewable energy portfolio and plans to invest over Rs 1 trillion to achieve a 1 GW renewable energy capacity by 2030. (MERCOM)

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

Oil and Natural Gas Corporation (ONGC) has issued a tender for the development of captive ISTS-connected, co-located wind-solar hybrid power projects with a total capacity of 1,000 MW (500 MW solar and 500 MW wind) across India. The projects will require operation and maintenance (O&M) for ten years. The deadline for bid submissions is October 23, 2024, with bids set to be opened the following day. Projects must be commissioned within 36 months of receiving the letter of award. Bidders are required to provide a bank guarantee of Rs 80 million. The successful bidder must also submit a security deposit-cum-performance bank guarantee equivalent to 10% of the annualized contract value minus the O&M costs. Additionally, a bank guarantee equal to 10% of the annual O&M charges for each year must be provided one month before the project's commissioning and prior to the start of any chargeable O&M services. Bidders should ensure their submissions are comprehensive and fully comply with ONGC's terms, conditions, and bid evaluation criteria. Non-compliance may result in bid rejection, emphasizing the need for meticulousness in the bidding process. In a related development, ONGC has announced its plan to acquire PTC Energy (PEL), a subsidiary of PTC India, in a transaction valued at Rs 9.25 billion. PEL has commissioned seven wind power projects in Andhra Pradesh, Karnataka, and Madhya Pradesh, totalling 288.8 MW. ONGC is committed to expanding its renewable energy portfolio and plans to invest over Rs 1 trillion to achieve a 1 GW renewable energy capacity by 2030. (MERCOM)

Next Story
Real Estate

Colliers India Transacts 207,000 sq ft office space at Embassy TechVillage

Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced that it has signed an Agreement to Lease (‘ATL’) with global cyber security company Rubrik at Embassy TechVillage in Bengaluru.Colliers, a leading global diversified professional services company, specialising in commercial real estate services, engineering consultancy and investment management facilitated the transaction for Rubrik.Located on Bengaluru’s Outer Ring Road, Embassy TechVillage is one of Embassy REIT’s flagship office parks which offers world-class office spaces, ..

Next Story
Infrastructure Urban

Ensemble Infrastructure India Appoints Suman Saha as Director of Design

Ensemble Infrastructure India Ltd, a leading workplace design and build fit-out company, has appointed Suman Saha as its new Director of Design. With 25 years of experience in the industry, Suman is recognized for his innovative approach and excellence in design leadership.Working closely with the CEO, Suman’s appointment will enhance the company’s design communication across multiple touchpoints, ensuring smooth collaboration between clients, designers, and execution teams for superior project outcomes. Under his guidance, Ensemble will focus on creating workspaces and design labs that em..

Next Story
Products

Ribbon Vanity by Küche7: Fluid Design Meets Everyday Elegance

Küche7, pioneers in luxury stainless steel kitchens, have unveiled the Ribbon Vanity, a graceful creation that transforms bathroom spaces with its soft, flowing design and understated sophistication. Inspired by the fluid form of a ribbon, this vanity combines smooth finishes, clean lines, and gentle curves, offering a timeless aesthetic that seamlessly complements diverse interior styles.Available in a refined blush pink hue, the Ribbon Vanity effortlessly merges functionality with elegance. With thoughtfully designed storage options, it ensures that bathroom essentials are neatly organised ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000