Developing and Implementing a 12 Mw Power Plant, a Renewable Energy Project Tender

Procurement Summary

State: Telangana

Summary: Developing and Implementing a 12 Mw Power Plant, a Renewable Energy Project

Deadline: 30 Dec 2019

Posting Date: 07 Dec 2020

Other Information

Notice Type: Tender

TOT Ref.No.: 48235336

Document Ref. No.:

Financier: Self Financed

Purchaser Ownership: -

Document Fees: Refer Document

Tender Value: Refer Document

EMD: Refer Document

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Tender Details

Tenders are invited for Developing and Implementing a 12 Mw Power Plant, a Renewable Energy Project. Hyderabad’s Nettlinx acquires 51 pc stake in Sri Venkateswara Green Power Projects Telangana Greater Hyderabad Municipal Corporation (Mucherla) 14 MW SV Green Power Projects Limited Hitachi Zosen Waste to Energy projects The project is commercially viable as the power purchase agreement with Telangana power distribution company specifies a tariff of Rs 7.40 per unit and is on a must buy basis. Hyderabad: Nettlinx Limited, the Hyderabad-based internet infrastructure company as part of its plants to diversify into other potential businesses and expand its group operations, has acquired controlling 51 per cent stake in Sri Venkateswara Green Power Projects Limited, a company involved in developing and implementing a 12 MW power plant, a renewable energy project. The proposed power plant, converts GHMC waste into energy, is being developed in the GHMC south zone located about 50 kms from the Telangana State Secretariat. The project will be operational in about 18 months. Commenting on the acquisition, Dr Manohar Loka Reddy, chairman, Nettlinx Limited said, “The investment and acquisition is strategic in nature, considering the company’s decision to diversify into sunrise business segments. We are confident of successfully executing this prestigious project, which not just help us diversify but also brings in synergies to both the entities.” The project cost is around Rs 200 crores and would be funded with an equity infusion of Rs 60 crores, out of which Nettlinx will contribute 51 per cent through its internal accruals. K Venkateswara Reddy, MD of Sri Venkateswara Green Power Projects and his associates will infuse towards their share of 49 per cent of equity participation. The rest of the project funding will come from term loans and working capital borrowings. The project is commercially viable as the power purchase agreement with Telangana power distribution company specifies a tariff of Rs 7.40 per unit and is on a must buy basis and also stipulates a minimum guarantee price, Government had given assurance of 700 tonnes of waste per day delivery at the plant site. This project was given significance to avoid landfills which pollute land and subterranean water for hundreds of years to make Hyderabad the pollution free city in the country and also the fly ash which is generated from the process is used for Road Pavers. Elaborating further on the deal, K Venkateswara Reddy, MD of Sri Venkateswara Green Power Projects said, “Though, both the companies continue to operate as independent business units, the partnership will help build a robust ecosystem to execute the project faster and manage efficiently.” SV Green Power Projects has acquired suitable land, obtained necessary statutory clearances and approvals from the Telangana state government agencies TSPCB, TSREDCO, TSERC, Municipal Department and other agencies to execute the project. The company has initiated concrete steps towards achieving the project financial closure. This waste to energy power project serves the role of scientific disposal of waste, generation of green energy, reducing greenhouse gas emissions and also helping of saving about 200 acres of city land worth Rs 1, 000 crores that might have been used for waste landfilling.

Documents

 Tender Notice