Madhya Pradesh Invites Bids for the Purchase of 97,000 RECs
The last date to submit the bids online is March 28, 2023
March 27, 2023
Madhya Pradesh Industrial Development Corporation (MPIDC), Indore, has invited bids for the purchase of 97,000 renewable energy certificates (RECs) through power exchange or bilateral trade for the power project in the special economic zone (SEZ) of Pithampur in the Dhar district of Madhya Pradesh.
The last date to submit the bids is March 28, 2023. Bids will be opened the following day.
Bidders must submit ₹970,000 (~$11,779) as an earnest money deposit.
The trader member should bid on behalf of MPIDC for REC purchase and pay to the Indian Energy Exchange (IEX) as per bid rate inclusive of REC amount, IEX transaction fee, and applicable taxes.
Also, the payment toward the purchase of RECs from IEX, along with transaction charges of IEX and professional charges of the bidder, will be paid by MPIDC.
The agreement will be valid for one year from the date of signing of the agreement or until RECs are procured, whichever is earlier.
To participate in the bidding process, the trader member should be a registered power trader with the Central Electricity Regulatory Commission (CERC) or a power consultant who can execute the bilateral trade of RECs for MPIDC.
Additionally, the bidder having a mandate from the seller, will be allowed by providing details of its associated trader to complete the transaction as per the National Load Despatch Center.
The bidder should provide certificates as per the CERC REC Regulations 2022.
As per the tender documents, within the time stated in the contract data, the contractor should submit to the engineer for approval a program showing the general methods, arrangements, order, and timing for all the activities.
The program should be supported with all the details regarding key personnel, equipment, and machinery proposed to be deployed for its execution. The contractor should submit the list of equipment and machinery being brought to the site, the list of key personnel being deployed, the list of machinery and equipment being placed in the field laboratory, and the location of the field laboratory along with the program.
Last June, Bharat Heavy Electricals invited bids from traders to procure RECs from the National Load Despatch Center and trade them at the power exchanges for its 5 MW solar project in Ranipet, Tamil Nadu.
Earlier, CERC had issued ‘Terms and Conditions for Renewable Energy Certificates for Renewable Energy Generation Regulations, 2022.’ According to the regulations, renewable energy generating stations, captive generating stations based on renewable energy sources, distribution licensees, and open access consumers are now eligible to issue RECs.
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