Onix Renewable Invites EOI for 1.9 GW Solar Projects in Maharashtra.

Onix Renewable Launches EOI for 1,959 MW Solar Projects in Maharashtra.

Expert Analysis:

• Project Scale and Scope: Onix Renewable has announced an Expression of Interest (EOI) for 1,959 MW of ground-mounted solar projects across 252 locations in Maharashtra.

• Equipment Supply: The company will provide solar modules and inverters for the projects.

• Proposal Submission Requirements: Proposals must be submitted by January 17, 2025, and an EMD of INR 50,000 per MW.

• Execution Responsibilities: Bidders will handle EPC tasks, including design, engineering, procurement, supply, erection, testing, commissioning, and 3-year O&M services.

• Operational Standards: Bidders must ensure a minimum Capacity Utilization Factor (CUF) of 19% over 25 years and manage interconnection with the 11kV grid network, including building transmission lines and substations.

• Eligibility for Projects up to 50 MW: Bidders must have completed at least one 5 MW ground-mounted solar project at a single location or a total of 20 MW across multiple locations under an EPC contract.

• Eligibility for Projects above 50 MW: Bidders must have developed 1 MW of ground-mounted solar for every additional 5 MW quoted or 3 MW for every additional 5 MW bid above 50 MW.

• Financial Requirements: For projects up to 50 MW, bidders must have an annual turnover of INR 25 crores. For projects above 50 MW, an additional turnover of INR 2.5 crores per 5 MW is required. Bidders must also maintain a positive net worth over the last three years.