The Ministry of Environment, Climate Change and Technology (MOE) of the Republic of Maldives and the Asian Development Bank as the transaction advisor wish to invite interested local and international companies and lenders to participate in market sounding sessions for the 20MW Maldives outer islands solar PPP project (Project) for which the request for proposal (RFP) is expected to be launched in the coming weeks.
The one hour sessions will be conducted at 1pm Male time (4pm Singapore/Manila/Beijing) on Tuesday 18th and Thursday 20th of October 2022 via zoom for which the joining link is given below.
Join Zoom Meeting
https://adb-org.zoom.us/j/96476756514?pwd=V3FQeWc0clE2MnhUZ1J0TGUyWGlWQT09
Meeting ID: 964 7675 6514
Passcode: Maldives17
Following are the key Project highlights:
| Project Scope
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Design, Build, Finance, Own, Operate and Maintain a 20 MW Solar PV Power Project in 20 outer islands of Maldives with a mix of land, rooftop and nearshore floating solar installations.
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| PPA Term
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15 years from commercial operations date (COD) with transfer to FENAKA or decommissioning as required by FENAKA.
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| Private Partner
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Single entity, group of companies, or consortium offering the lowest tariff and meeting minimum criteria for technical solution, financial resources and experience of developing similar solar projects.
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| Public Partner
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FENAKA to be signatory of the PPA
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| Risk Mitigation Support
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It is expected that the Project Company will be offered:
1. Political risk insurance for equity investment from the sponsor 2. Escrow account with acceptable bank for ongoing payment obligations of FENAKA 3. Non reimbursable performance incentive for timely and within cost delivery of the Project at COD
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| Lenders
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Potential Bidders will be required to provide detailed financing plan in their bid submission and are encouraged to seek early involvement of their financiers to finance the Project
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The purpose of the market sounding process is to obtain bidder and lender community insights and feedback from the market sounding will inform the final tender design. Please note that this market sounding is being undertaken for information purposes only and is not part of any formal procurement process. Participation in this market sounding process will give rise to no advantages or disadvantages to respondents in any future procurement process.