RECPDCL Floats Tender for 500 MW of ISTS-Connected Solar Projects

REC Limited’s subsidiary company, REC Power Development, and Consultancy (RECPDCL) has floated a tender for setting up 500 MW of interstate transmission system (ISTS)-connected solar power projects across the country. By combining thermal or hydroelectric with renewable energy and storage, the projects seek to maintain flexibility in their generation and scheduling.

The last date for submitting the bid for this REC Power Development and Consultancy (RECPDCL) 500 MW tender is December 23, 2022, and bids will be opened on December 28, 2022.

Each interested bidder will have to pay Rs. 50,000/- (+18% GST) (for 50 MW to 99 MW range) as a bid processing fee. For 100 MW and above capacity, the bid processing fee will be Rs 15 lakhs plus 18% GST. Additionally, bidders must send an earnest money deposit of Rs. 400,000 per MW of the quoted capacity. The winning bidder would be required to provide a performance bank guarantee for Rs 800,000/MW of the quoted capacity. 

With the chosen bidders, Damodar Valley Corporation will sign a 25-year power purchase agreement (PPA). Within 18 months of the PPA’s signing date, the project must be put into operation. The bid stipulates that projects that have already been commissioned are ineligible for consideration.

In addition, projects that have not yet been completed or commissioned will be taken into account if they are not already approved under other federal or state initiatives. To reduce technology risk and complete projects on schedule for commissioning, only commercially established and operational technologies may be used. As of the last day of the previous fiscal year, or at least seven days before the deadline for bid submission, the net worth of bidders must be equal to or greater than Rs 80 per MW of the quoted capacity. 

The minimum annual turnover should be Rs 41.44 lakh per MW for the last three financial years. Additionally, bidders must be able to generate internal resources for at least Rs 830,000 per MW of the quoted capacity as of the end of the previous financial year or at least seven days before the bid deadline. The net worth of the bidder during the last Financial Year shall be positive. 

Bidders can view/download this REC Power Development, and Consultancy (RECPDCL) 500 MW solar tender documents and technical specifications here.

Earlier, REC Power Development and Consultancy ltd invited online bids for the selection of a technical consultant who would provide consultancy services for a floating solar project located in New Delhi.