en.Wedoany.com Reported - Indian state-owned enterprise Fertilisers and Chemicals Travancore Limited (FACT) has issued a tender for a floating solar project, planning to build a 6 MWac grid-connected floating solar power plant at Ambalamedu Lake in the Kochi Division of Kerala. The project will be developed under the Build, Own, Operate, and Transfer (BOOT) model. The bid submission deadline is July 11, 2026.
According to the tender guidelines, the selected developer will be responsible for the installation and operation of the power plant and will supply electricity to FACT for 25 years. After 25 years of commercial operation, the developer must transfer the plant to FACT in good condition. The entire bidding process is conducted in two stages, with bidders required to submit technical-commercial bids and price bids separately. Bidders must submit a bid security of 100,000 Indian Rupees and specify the mobilization time required from the receipt of the Letter of Intent or Work Order.
Globally, floating photovoltaic (FPV) is expanding at a compound annual growth rate of over 15%, making it one of the fastest-growing segments in the new energy sector, with an installation potential exceeding 4,000 GW. FACT's tender aligns with the subsidy policy direction of India's Ministry of New and Renewable Energy (MNRE) for floating solar projects, where Central Financial Assistance (CFA) can cover up to 30% of the project cost. Kerala, with abundant water resources, over 44 rivers, and numerous artificial lakes, has natural advantages for developing floating solar energy.
Founded in 1943, FACT is one of India's largest fertilizer and chemical producers, with an annual turnover of approximately USD 250 million. The company is advancing its emission reduction strategy, aiming to reduce carbon emission intensity by 30% from 2018 levels by 2030.
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