U-Solar has emerged as the L1 bidder for NSPCL's 20 MW floating solar project in Chhattisgarh, with commissioning planned within one year.
August 07, 2026. By EI News Network
U-Solar Clean Energy Solutions Pvt. Ltd. has emerged as the lowest (L1) bidder for the 20 MW floating solar photovoltaic (PV) project to be developed at Maroda Reservoir 2 in Bhilai, Durg district of Chhattisgarh.
The project is being tendered by NTPC SAIL Power Company Ltd.(NSPCL), a joint venture between NTPC Ltd. and Steel Authority of India Ltd. (SAIL), through a domestic competitive bidding process under a single stage, two envelope system.
U-Solar submitted a financial bid of INR 127.47 crore. However, the bidder ranking was determined based on the lowest cost per unit of estimated annual electricity generation rather than the overall project cost. Under this evaluation methodology, USolar secured the top position with a quoted rate of INR 2.90 crore per million units (MU) of estimated annual electricity generation, supported by an estimated annual generation of 43.90 million units.
InSolare Energy Ltd. emerged as the second lowest (L2) bidder with a financial bid of INR 134.88 crore. The company quoted an evaluated rate of INR 2.96 crore per MU, backed by an estimated annual generation of 45.54 million units. SLNKO Energy Pvt. Ltd. ranked third (L3) after quoting INR 138.30 crore, translating to an evaluated rate of INR 3.12 crore per MU.
Oriana Power secured the fourth position (L4) with a financial bid of INR 137.71 crore and an evaluated rate of INR 3.14 crore per MU. Floatex Solar ranked fifth (L5), quoting INR 139.15 crore with an evaluated rate of INR 3.17 crore per MU. BVG India Limited emerged as the sixth lowest (L6) bidder, submitting a financial bid of INR 144.61 crore, which was also evaluated at INR 3.17 crore per MU.
The 20 MW floating solar project is scheduled to be completed within one year from the award of the contract. The selected contractor will undertake the engineering, design, supply, installation, testing and commissioning of the floating solar power plant at Maroda Reservoir 2.
The project scope includes the supply and installation of floating platforms, anchoring and mooring systems, solar PV modules, inverters, civil, electrical and mechanical works, a 33 kV underground power evacuation system, and a Supervisory Control and Data Acquisition (SCADA) based central monitoring system. Following project commissioning, the successful bidder will also be responsible for operation and maintenance of the plant for a period of three years.
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