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MAHAPREIT Invites Bids for 100 MW Floating Solar Project Across Two Reservoirs in Maharashtra

Mahatma Phule Renewable Energy and Infrastructure Technology (MAHAPREIT) has issued a request for selection (RfS) to develop a 100 MW grid-connected floating solar power project at the Tansa Dam and/or Modak Sagar Dam in Maharashtra.

Bids must be submitted by February 12, 2026, with bid opening scheduled for February 16, 2026. Interested bidders are required to submit an earnest money deposit of Rs 54.6 million along with a tender fee of Rs 29,500. The selected developer must furnish a performance bank guarantee of Rs 546 million.

The project has a declared minimum capacity utilisation factor (CUF) of 25 percent, with a permissible variation of ±5 percent. MAHAPREIT has set a ceiling tariff of Rs 4.18 per kWh for electricity supply.

The floating solar facility will supply power for 25 years to MAHAPREIT or the Brihanmumbai Municipal Corporation (BMC), which owns and operates the Tansa and Modak Sagar reservoirs.

The scope of work covers end-to-end responsibilities, including engineering, financing, construction, ownership, operation, and maintenance of the plant, along with development of evacuation infrastructure up to the designated interconnection point.

Eligibility criteria require prior floating solar experience: either commissioning a cumulative 25 MW over the past seven financial years with at least one project of 10 MW at a single site, or commissioning at least 15 MW at a single water body. Projects must have been operational for at least 12 months.

Additional requirements include five years’ experience in solar module manufacturing, commissioning a minimum of 200 MW of grid-connected solar projects in India over the past five years (including one project of at least 50 MW operational for 12 months), and 100 MW of solar O&M experience over two years, including at least 10 MW of floating solar O&M for 12 months.

Bidders must have a minimum net worth of Rs 50 million per MW, based on audited financials for FY 2023–24 or FY 2024–25. The project is required to be completed within 18 months from PPA execution or site handover, with part commissioning allowed starting at 25 MW and subsequent increments of 10 MW.

The tender mandates the use of components listed under the Approved List of Models and Manufacturers (ALMM). Liquidated damages will apply for delays beyond the scheduled commercial operation date, with staged encashment of performance security up to 22 months, and contract termination provisions thereafter.