RECPDCL Invites Bids for 250 MW Solar Projects with Greenshoe Option

The last date for the submission of bids is December 29, 2023


REC Power Development and Consultancy (RECPDCL) has floated a tender to set up 250 MW Inter-State Transmission System (ISTS)-connected solar power projects anywhere in India with an additional greenshoe option of 250 MW.

The last date for the submission of bids is December 29, 2023. Bids will be opened on January 2, 2024.

The projects will developed under the program for flexibility in generating and scheduling thermal or hydropower stations through bundling with renewable energy and storage.

The minimum voltage requirement for interconnection at the ISTS is 220 kV. The solar power developer will be responsible for land and connectivity setup.

The tender fee, including GST, amounts to ₹29,500 (~$354), and bidders should also submit a bid processing fee of ₹1.5 million (~$17,995.5) + 18% GST.

Bidders must furnish an earnest money deposit (EMD) of ₹900,000 (~$10,797)/MW per project.

Successful bidders have to deposit a performance bank guarantee of ₹1.75 million (~$20,994)/MW, which must be submitted within seven working days before signing the power purchase agreement.

A bidder, including its parent, affiliate, or ultimate parent, or any group company, is allowed to submit a single bid for 250 MW. The total capacity, including greenshoe, allocated to a bidder will not exceed 500 MW.

If a bidder intends to establish more than one project, each must be physically distinct, with separate boundary walls, injection points, and metering arrangements.

Submission of multiple bids by the same company will render all bids from the group invalid.

The tender aims to promote exclusively commercially proven and operational technologies to minimize technology risks and ensure the timely commissioning of the projects. The modules used in the project must be listed in the latest Approved List of Models and Manufacturers issued by the Ministry of New and Renewable Energy.

Bidders must have experience in successfully commissioning solar power generation projects totaling at least 500 MW.

Additionally, within the last five years from the bid deadline, theyr must have successfully commissioned a single project with a minimum capacity of 200 MW.

Bidders’ net worth should equal or exceed ₹10 million (~$119,966)/MW. This evaluation is to be based on the last date of the previous financial year, i.e., FY 2022-23, or at least seven days before the bid submission deadline.

In an exclusive interview with Mercom India, V K Singh, Director (Projects) at REC Limited, discussed the role the government-owned infrastructure finance company aims to play in achieving India’s ambitious 500 GW renewable energy target.

In November 2023, RECPDCL issued a request for selection for solar developers to set up 290 MW grid-connected solar power projects anywhere in India, with a greenshoe option of an additional 290 MW.

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