The Solar PV Independent Power Project will involve the development of a utility scale Solar PV Plant having a nominal capacity of 100 MW Peak AC at Amin, which is located in the southern region of the Sultanate of Oman, approximately 210 km North West from Salalah.
High profile landmark transaction – Petroleum Development Oman LLC (PDO’s) first renewable energy project being implemented as an Independent Power Producer (IPP) in the Sultanate of Oman.
Contracted offtake – PDO will be the sole off-taker under the project and will buy all electricity generated from the project.
International best practices – The Project will be structured and documented in accordance with international best practices and on the basis of the existing Oman IPP model, in order to ensure a risk allocation that optimizes the cost of capital.
KEY PROJECT FEATURES
||The Petroleum Development Oman LLC (“PDO”)|
|Design, construction, financing, operation and maintenance of the solar plant for the duration of the PPA term|
||18 months |
||Tariff based payment based on kWh contributed to grid.|
The Project includes the design, construction, ownership, financing, operation and maintenance of an independent solar power plant having a nominal capacity of 100 MW Peak AC under a Build, Own Operate “BOOT” and Transfer framework.
Subject to being able to satisfy the Minimum Functional Specification (“MFS”), bidders will be free to design and select equipment as they see fit.
The Project will be the subject of a competitive tender and a contractual framework substantially similar to that used in previous IPPs and independent power procured in recent years in the Sultanate of Oman, and in line with international best practice.
PDO, the sole wholesale buyer of electricity and related water from licensed production facilities in Oman, will enter into a 23 year Power Purchase Agreement (“PPA”) in respect of the Project commencing on the scheduled commercial operations date. Under the PPA, PDO will contract to purchase all of the capacity and output from the Project.
It is envisaged that the Project will be privately financed through a combination of sponsor and third party equity and non / limited recourse debt under a similar structure to previous IPPs. It is intended that PDO will sign a direct agreement with the Project’s lenders setting out financial commitments.
The following outlines the intended risk allocation under the PPA:
Solar Insolation Risk: Borne by the bidders
Foreign Exchange Risk: All payments under the PPA to be denominated in Omani Riyals
Interest Rate Risk: Borne by bidders
Inflation Risk: Shared through a portion of the payments under the PPA indexed annually
Prospective bidders submitting expression of interest shall satisfy the following qualification criteria to enable them to receive the RFP documents (the “Qualification Criteria”).
The Qualification Criteria will have specific emphasis on the following:
1. The Bidder shall have a minimum tangible net worth of Fifty million Dollars (USD $50,000,000).
2. The Bidder shall demonstrate sufficient experience in the successful development (i.e. from project award to commercial operation), during the five (5) year period, of at least two large scale solar PV independent power projects with an aggregate capacity of 100 MW Peak dc of which one project shall have been implemented outside their home country with a capacity of at least 50 MW peak dc.
3. The Bidder shall be the beneficial owner (by equity) of at least in aggregate 100 MW Peak dc installed power plant capacity;
4. The Bidder shall demonstrate a track record of efficient operation and maintenance (either as principal or arranging outsourcing and subcontracting of this role), during the three (3) year, of at least two power projects each with an installed power plant capacity of at least 100 MW Peak dc of which one must have been implemented as a Solar PV power project;
5. Expertise in raising project finance for significant renewable energy projects and/or for significant fossil fuel energy projects.
6. The Bidder shall submit audited financial statements and reports for the previous 3 years to demonstrate their financial capability to raise and finance a Project in excess of USD 100,000,000.
7. The Bidder shall submit a Non-Refundable Tender Fee of USD 5,000 as part of the qualification criteria, failure to do so will disqualify the bidder from participating in the tender.
The indicative procurement timetable for the Project is outlined below:
|Expressions of Interest closing date
||31 January 2018|
|Request for Proposal Issued
EXPRESSIONS OF INTEREST
Prospective bidders may register their Expression of Interest by completing the qualification criteria in PDO’s Public Tender website on the following Link:
Note: To gain access, you are kindly requested to:
1. Click on Public Tender Logon
2. Click on the ‘RFx and Tenders’ tab
3. Under Active Queries / eRFxs, select 'All’
4. Click on RFx: 2000000444 / C311765-100 MW Solar Photovoltaic (PV)
Upon accessing the link prospective bidders shall answer the Qualification Criteria questions including submission of the Tender Fee to enable them to receive the RFP once released.
Failure to submit the expression of interest before the deadline stated in the indicative timeline shall prevent the bidders to participate in the bid. The Tender Documents shall not be issued to the bidders failing to comply with the qualification criteria.
All communications regarding the Qualification criteria shall strictly be in writing and shall only be submitted via the following link.
For additional inquiries & general information please contact the below: