SJVN Limited Tender by Sjvn Limited (GEM/2025/B/6104991)
Assets Insurance Service - Insurance coverage for SJVNs Sadla Wind Power Station SWPS Khirvire Wind
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Tender Title: Assets Insurance Service for SJVNs Sadla Wind Power Station
Reference Number: GEM/2025/B/6104991
Issuing Authority: SJVN Limited
Department: Ministry of Power
The Assets Insurance Service tender involves providing comprehensive insurance coverage for SJVNs Sadla Wind Power Station (SWPS) located at Khirvire Wind Power Station (KWPS) for a duration of 12 months following the expiration of the existing insurance policy. This tender aims to ensure the financial protection of the wind power station against potential damages or losses, which is crucial for maintaining operational efficiency and compliance with regulatory standards.
Scope of Work and Objectives
The primary scope of work includes assessing the value of assets at the wind power station, formulating appropriate insurance coverage plans, and implementing risk management strategies that align with industry standards. The objectives are to safeguard against operational risks, provide financial security, and ensure compliance with the Ministry of Power guidelines.
Eligibility Criteria
To participate in this tender, bidders must meet specific eligibility criteria. This includes being a legally registered entity with a valid insurance license and previous experience in providing insurance services specifically for energy sector projects. Prospective bidders should also have a sound financial standing and provide evidence of successful project completion in similar capacities.
Technical Requirements
Bidders must demonstrate technical proficiency, including the ability to accurately assess asset value and risks associated with wind power operations. Technical documentation must be submitted, detailing the company's capability to deliver continuous insurance coverage, including crisis management and claims processing.
Financial Requirements
Bidders are required to provide a detailed financial proposal, including premium quotations based on assessed risks. The financial proposal will be evaluated for cost-effectiveness while ensuring comprehensive coverage. Additionally, bidders will need to offer Earnest Money Deposit (EMD) as stipulated in the tender documents.
Document Submission Details
All required documentation, including eligibility proofs, technical proposals, and financial bids, should be submitted electronically as part of the bidding process. Clear instructions regarding submission formats and specific documentation requirements will be provided in the tender documents.
Special Provisions
The tender encourages participation from Micro, Small, and Medium Enterprises (MSEs) and offers priority consideration for startups. Provisions under the 'Make in India' initiative are applicable, encouraging local firms to participate in the bidding process.
Evaluation Process
The evaluation of bids will be conducted based on a two-tier system: technical evaluation followed by financial evaluation. Bids will be assessed on their technical competence, previous experience, financial sustainability, and the overall feasibility of the proposed insurance solutions.
Delivery Locations
Insurance services will primarily cover the assets of the Sadla Wind Power Station located within the Khirvire facility. All covered assets and their geographical scope will be specified in the tender documents.
Contact Information
For any inquiries or clarifications regarding this tender, contact details will be available within the official tender documentation. Participants are encouraged to reach out with queries to ensure clarity on requirements and processes.
This tender presents a significant opportunity for experienced insurance providers to contribute critically to the sustainable operation of wind energy sources within India's energy portfolio, thereby supporting the country's shift towards renewable energy and increased sustainability.
General Information
Financial Information
Evaluation and Technical Information
Tender Documents
7 DocumentsDocuments Required from Seller
- Experience Criteria
- Bidder Turnover
- Certificate (Requested in ATC) *In case any bidder is seeking exemption from Experience / Turnover Criteria
- the supporting documents to prove his eligibility for exemption must be uploaded for evaluation by the buyer
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Frequently Asked Questions
The eligibility requirements include that bidders must be registered entities with a valid insurance license. Additionally, they should demonstrate experience in providing insurance services for projects in the energy sector. Financial statements reflecting sound financial standing and proof of previous successful project completions are also necessary.
Bidders must exhibit proficiency in assessing asset values and managing risks specific to wind power operations. They should provide extensive technical documentation that highlights their capability to offer comprehensive insurance coverage, including crisis management strategies, claims processing procedures, and compliance with the relevant quality standards.
The Earnest Money Deposit (EMD) serves as a financial guarantee to ensure commitment during the bidding process. Bidders must submit the EMD as specified in the tender documentation, which will be refunded upon the completion of the tender evaluation process to those who have not been awarded a contract. The exact amount required will be detailed in the submission guidelines.
Proposals for the tender must be submitted electronically. Participants should carefully refer to the submission methods outlined in the tender document, ensuring that all required documentation and forms are completed and submitted in the accepted formats. Timely submissions are crucial for evaluation consideration.
The tender includes special provisions to encourage the participation of Micro, Small, and Medium Enterprises (MSEs) and provides advantages such as financial assistance and priority consideration in the evaluation process. Adhering to ‘Make in India’ policies, the tender aims to bolster local enterprises and enhance their participation in providing essential services like insurance for renewable energy projects.
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