Oil and Natural Gas Corporation (ONGC) announced a tender for the development of captive wind-solar hybrid power projects connected to the ISTS, with a total capacity of 1,000 MW (500 MW solar and 500 MW wind) across various locations in India.
The projects will include operation and maintenance (O&M) services for a period of ten years. The deadline for submitting bids is October 23, 2024, and the bids will be opened the following day. Successful projects are required to be commissioned within 36 months from the date of the letter of award.
Bidders are expected to provide a bank guarantee of ₹80 million. The winning bidder must also submit a security deposit-cum-performance bank guarantee that is equal to 10% of the annualized contract value, excluding O&M costs.
Additionally, a bank guarantee equivalent to ten percent of the annual O&M charges for each year must be submitted one month prior to the project’s commissioning and before the start of any chargeable O&M services.
As reported by constructionworld.in, it is crucial for bidders to ensure their submissions are complete and fully adhere to ONGC’s terms, conditions, and bid evaluation criteria. Any deviation or non-compliance could lead to disqualification, highlighting the importance of accuracy and thoroughness in the bidding process.
