Petition for the determination of tariff with CERC (Sharing of Inter-State Transmission Charges and Losses) and (Terms and Conditions of Tariff) Regulations – EQ
Summary:
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## Key Parameters
| Parameter | Details |
|———–|———|
| **Document Sale** | ₹1,000 – ₹5,000 (category dependent) |
| **EMD Range** | ₹1,00,000 – ₹6,86,000 (category dependent) |
| **Bid Validity** | 120 days |
| **Commissioning Period** | 9 months from PPA signing |
| **Bid Submission Closing** | 11 April 2026 (17:30 Hrs) |
| **Offline Submission Deadline** | 15 April 2026 (17:00 Hrs) |
| **Technical Bid Opening** | 16 April 2026 (15:00 Hrs) |
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## Qualification Criteria (Per KW basis)
| Parameter | Requirement |
|———–|————-|
| **Net Worth** | ₹9,900 / KW or above |
| **Annual Turnover** (OR) | ₹4,950 / KW or above |
| **PBDIT** (OR) | ₹990 / KW or above |
| **Line of Credit** (OR) | ₹1,238 / KW or above (≤90 days old) |
– **JV/Consortium allowed:** Max 3 members; Lead member ≥50%; others ≥20% each
– **Subsidiary bidding:** Allowed with unconditional parent company guarantee
– **Insolvency:** No admitted IBC proceedings; else disqualification
– **Blacklisting:** Self-declaration required; no prior bans
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## Business Points & Strategic Implications
| Business Aspect | Implication |
|—————-|————–|
| **Captive Government Demand** | Buildings of Law, Jal Shakti, Forest, Home, etc. ensure low payment default risk – ideal for RESCO model. |
| **Tariff Pressure via e-RA** | e-Reverse Auction will drive tariffs down. Bidders must model aggressive but viable tariffs. |
| **Capital-Intensive Entry** | High net worth/turnover per KW favors larger developers; smaller players may need JV partners. |
| **JV Strategy Advantage** | Consortium with one technical partner + one financial partner can meet both experience and liquidity criteria. |
| **Long-term Revenue Lock-in** | RESCO mode provides 15–25 year PPA revenue visibility, but exit is limited (1 year shareholding lock post-commissioning). |
| **Geographical Risk** | J&K winters, remote locations, and security logistics must be factored into installation O&M cost estimates. |
| **Parent Guarantee as Leverage** | Subsidiaries of large solar EPC companies can bid without own financial history, using parent’s balance sheet. |
| **Compliance Heavy** | Dual submission (online + offline), DSC mandatory, file size limits (<2MB) – non-compliance = automatic rejection. |
| **First-mover in UT J&K** | Early entry into J&K government solar market can build reference projects for future state tenders. |
| **Risk of IBC Disqualification** | Any insolvency admission during bid evaluation or pre-award kills eligibility – strict legal/financial monitoring needed. |
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