U-Solar wins Rs 127 crore EPC contract for 20 MW floating solar project
U-Solar Clean Energy Solutions Private Limited has secured a Rs 127.47 crore Engineering, Procurement and Construction (EPC) contract for a 20 MW floating solar photovoltaic (PV) project at Maroda Reservoir-II in Bhilai, Chhattisgarh.Â
The contract was awarded by NTPC-SAIL Power Company Limited (NSPCL) on August 3, 2026, through a domestic competitive bidding process using a single-stage, two-envelope system. The project is scheduled to be completed within one year.
Bid outcome
U-Solar emerged as the lowest bidder (L1) after NSPCL evaluated bids on the basis of the lowest cost per unit of estimated annual electricity generation, rather than the overall project cost.
While the company quoted a financial bid of Rs 127.47 crore, its evaluated rate of Rs 2.90 crore per million units (MU), based on an estimated annual electricity generation of 43.90 MU, secured the top ranking.
InSolare Energy Limited was ranked L2 with a bid of Rs 134.88 crore and an evaluated rate of Rs 2.96 crore per MU, supported by an estimated annual generation of 45.54 MU. SLNKO Energy Private Limited secured the L3 position with a bid of Rs 138.30 crore and an evaluated rate of Rs 3.12 crore per MU.
Oriana Power ranked fourth (L4) with a bid of Rs 137.71 crore and an evaluated rate of Rs 3.14 crore per MU. Floatex Solar was placed fifth (L5) with a bid of Rs 139.15 crore and an evaluated rate of Rs 3.17 crore per MU, while BVG India Limited ranked sixth (L6) with a bid of Rs 144.61 crore and an evaluated rate of Rs 3.17 crore per MU.
Project scope
The selected contractor will undertake the engineering, design, supply, installation, testing and commissioning of the floating solar PV plant.
The scope of work includes floating platforms, anchoring systems, solar modules, civil, electrical and mechanical works, a 33 kV underground power evacuation system, and a SCADA-based central monitoring system. Following commissioning, the contractor will also provide operation and maintenance (O&M) services for three years.
The featured photograph is for representation only.
