The Punjab State Power Corporation Ltd (PSPCL) has put out a formal request for bids to buy 1,000 MW (1 GW) of solar power from grid-connected solar PV projects in the state of Punjab. The tender is open to developers with projects that are between 1 MW and 5 MW in size, and the total capacity offered by a bidder cannot be more than 1,000 MW.
Under the tender conditions, only projects connected to the PSPCL or Punjab State Transmission Corporation (PSTCL) grid are eligible to participate. Bidders must offer a firm competitive rate that is less than INR 3.10 per kWh. An e-reverse auction will choose the winner, making sure that the rate is as low as possible within the framework of competitive bidding.
Each bidding entity must pay a tender document fee of INR 29,500 and submit an earnest money deposit (EMD) of INR 4 lakh per MW of quoted capacity. The deadline for bid submission is April 1, 2026, and the techno-commercial bids will be opened on April 6, 2026.
The people who win the bids will have to sign a Power Purchase Agreement (PPA) with PSPCL that lasts for 25 years from the day power is supposed to start. The long-term PPA is meant to help solar developers get money for their projects and make sure they have a steady stream of income.
In addition to financial requirements, bidders must meet technical and eligibility criteria. These include a minimum net worth of at least INR 50 lakh per MW of quoted capacity as on the last date of the previous financial year or up to seven days prior to bid submission. A specified minimum annual turnover of INR 25 lakh per MW of capacity must also be demonstrated. Alternatively, bidders can fulfill liquidity criteria through internal resource generation or by providing an in-principle bank credit sanction letter.
The only manufacturers that can be used for all solar PV modules and cells in the projects are those on the approved model lists found in the tender documents.





