IOC-GPS Renewables, an Indian Oil Corporation (IOCL) and GPS Renewables joint venture, has invited bids to procure long-term open access solar power under the group captive model for its compressed biogas plants.

The sites are located in Haryana (4), Uttar Pradesh (3), Chhattisgarh (1), and Andhra Pradesh (1).

The last date to submit bids is February 24, 2026. Bids will be opened on the same day.

Bidders should submit an earnest money deposit (EMD) in the form of a bank guarantee for ₹1.3 million (~$14,346) per site.

Successful bidders must also furnish a performance bank guarantee of ₹3.24 million (~$35,757) per site.

The power purchase agreement (PPA) will be valid for 25 years from the project’s commissioning date.

Bids must be placed for a minimum of 26% of each unit’s total annual energy requirement, i.e., 2.658 million kWh, with scheduled delivery commencing on the scheduled commercial operation date.

The developer should supply between 85% and 110% of the committed energy over the 25-year PPA term.

For sites in Haryana and Uttar Pradesh, bidders should have commissioned two renewable energy projects of over 2.5 MW, or one renewable energy project of 5 MW, as an engineering, procurement, and construction (EPC) contractor or power generator.

For sites in Chhattisgarh and Andhra Pradesh, they should have successfully completed two renewable energy projects of over 1 MW, or one renewable energy project of 2 MW, as an EPC contractor or power generator.

The net worth of bidders should be at least ₹21 million (~$231,758) per site as on the last day of the previous financial year.

Bidders should have a minimum annual turnover of ₹17.8 million (~$196,443) per site during any of the last three financial years.

They should have an internal resource generation capability of at least ₹3.6 million (~$39,730) as on the last date of the previous financial year.

Alternatively, they should have an in-principle sanction letter from the lending institutions or banks committing a Line of Credit for a minimum of ₹4.4 million (~$48,558) per site to meet the project’s working capital requirement.

In November last year, IOCL invited bids for an EPC contract for a 1 MW grid-connected solar power project at its LPG bottling plant in Tikri Kalan, Delhi.

Earlier, Indianoil Petronas, a joint venture between IOCL and Malaysia-based Petronas, issued a tender for a non-comprehensive annual maintenance contract for a 3.4 MW solar project at Athipattu village in Tamil Nadu.

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