Bids Invited for Trading Energy, Renewables, and Energy Saving Certificates

Uttarakhand Power Corporation Limited (UPCL) has invited bids to select traders for the purchase and sale of energy, renewable energy certificates (solar and non-solar), and energy savings certificates (ESCerts) through exchanges.

The trader must have membership of all power exchanges, including the Indian Energy Exchange and Power Exchange India, and any other energy exchange launched. Bidders must also submit a valid license from Central Electricity Regulatory Commission (CERC) for inter-state trading of electricity.

The last date to submit bids is December 14, 2021. Bids will be opened on the same day.

The company divided the scope of work into two packages.


Package A includes purchasing power, solar and non-solar RECs, and ESCerts in power exchange on behalf of UPCL during the calendar year 2022.

Package B is for the sale of power, solar and non-solar RECs, and ESCerts in power exchanges on behalf of UPCL.

From January 1, 2022, to Dec-31, 2022, the bidder must provide energy trading support to UPCL on contingency, intraday, term-ahead, day-ahead, real-time market, and any other mode of market introduced by the exchanges during the period.

The successful bidder must also forecast the market-clearing price of the delivery day on an hourly basis before 11 AM on the trading day.

The successful bidder needs to purchase and sell power, RECs, and eCerts on the day ahead, contingency, intraday, Term Ahead Market, Day-Ahead Market, Real-time Electricity Market basis, and any other mode of market introduced by exchanges during the calendar year 2022.

Bidders should have traded at least 2,000 MU of power on exchanges in the past three years. A performance certificate must be provided from the utility for whom energy was traded, confirming that they have executed the agreement satisfactorily.

Bidders must also submit audited annual accounts of the last three financial years.

An earnest money deposit of ₹500,000 (~$6,650) in the form of a bank guarantee issued by a nationalized or scheduled bank must be submitted with the bids. The successful bidder must provide a contract performance guarantee of ₹1 million (~$13,300) for purchasing power, RECs, and ESCerts from energy exchanges within 30 days from the date of selection. The contract performance guarantee for bidders selected to sell power, RECs, and ESCerts at energy exchanges is ₹12.5 million (~$166,240).

In June 2021, UPCL invited bids for the empanelment of installers for grid-connected rooftop solar systems of 1 kW to 500 kW capacity at various places in the state.

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