HPCL Requests EoI For Acquiring Green Energy Assets with Minimum 50 MW Capacity

State owned Hindustan Petroleum Corporation Limited (HPCL) is exploring acquisition opportunities in Renewable Energy – Solar / Wind and Hybrid assets with or without storage with expected asset Capacity of minimum 50 MW. The PSU is aiming to augment its renewable business through the intended acquisition.

As per the notification, in case a seller is holding multiple assets/plants of lower capacity within the same state, they can be aggregated to reach the mentioned asset size. The states included are Rajasthan, Maharashtra and Andhra Pradesh.

The last date for submitting the online bids is February 28, 2023. Bids will be opened on the same day. The successful bidder must provide a performance bank guarantee in the amount of 10% of the worth of the supplied materials.

The HPCL notification has specified that the projects should only use Class-I and Class-II locally supplied parts. Micro and Small Enterprises (MSEs) will be given preference. HPCL said that in case L1 is not an MSE, MSE quotations that fall within the L1 + 15% price range may satisfy a portion of the demand by matching L1’s price.

If more than one MSE is available within the L1 + 15% price range, 25% of the tender value will be split evenly among the qualified businesses, provided that the L1 price is met. A minimum of 95% of the projects should have been available as of the bid submission date and all provided projects should have been running continuously for the previous 12 months.

HPCL also mentions that the project is required to have power purchase agreements (PPAs) with any commercial and industrial (C&I) clients, state or central government agencies, or DISCOM. Further, the project should have a minimum remaining life of 10 years from the date of bid submission. The projects must be connected to the substation of the state transmission utility (STU), distribution company (DISCOM), or central transmission utility (CTU), per the procurement document.

Last year also HPCL issued tender for consultancy to conduct feasibility study for the development of a 100-150 MW hybrid battery energy storage system in Andhra Pradesh.

Last month, HPCL also signed an MoU with NTPC Green Energy Ltd (NGEL) for development of renewable energy based power projects to tap business opportunities in renewable energy and supply of 400 MW round the clock renewable power for requirements of HPCL.