RECPDCL Looks for Solar Developer to Set up 250 MW Solar Projects

RECPDCL Looks for Solar Developer to Set up 250 MW Solar Projects

REC Power Development & Consultancy Limited has issued a tender for the selection of Solar Power Developer for setting up of 250 MW ISTS-connected solar PV power projects anywhere in India under Tariff-based competitive bidding with greenshoe option of additional capacity of 250 MW under scheme for flexibility in generation and scheduling of thermal/ hydro power stations through bundling with Renewable Energy and Storage Power.

RECPDCL is a wholly owned subsidiary of REC Limited.

The last day for online submission of bids by the solar power developer is December 28, 2023. The last day for submission of bids in hard copy is January 1, 2024. The bid opens on January 2, 2024.

Land and connectivity shall be in the scope of Solar Power Developer.

The bid processing fee is INR 15,00,000 + 18% GST. The Earnest Money Deposit (EMD) is INR 9,00,000 per MW per project.

The Performance Bank Guarantee is INR 17,50,000 per MW within 7 working days prior to signing of PPA.

The last few months have seen RECPDCL issue several tenders for renewable energy, these include those for capacities of 290 MW, 1 GW, 20 GW among others. In August, it also issued an RFS for the selection of wind power developers for development of 100 MW wind power projects.

REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power, is an NBFC focusing on power sector financing and development across India. Established in 1969, REC Limited provides long-term loans and other finance products for the power-infrastructure sector comprising generation, transmission, distribution, renewable energy and new technologies like electric vehicles, battery storage and green hydrogen.