REC Power Development and Consultancy Limited (RECPDCL), a fully-owned subsidiary of REC, has floated a tender to select a transmission service provider through a tariff-based competitive bidding process to establish an inter-state transmission system (ISTS) for the evacuation of 20 GW power from Renewable Energy Zones (REZ) in Rajasthan under Phase -III, Part I.

The last date for the submission of bids is October 27, 2023. Bids will be opened on the same day.

The scheduled commercial operation date of the project is 42 months from the effective date.

The developer should ensure that all aspects of the project, including equipment, facilities, components, and systems, are designed, constructed, and tested according to the terms outlined in the transmission service agreement.

The selected developer must also obtain a transmission license from the commission.

The bidder has to submit ₹500,000 (~$6,026) as cost of the tender.

The selected bidder will have to provide a performance bank guarantee of ₹6.68 billion (~$80.5 million) within ten days of receiving the Letter of Intent.

The successful bidder will acquire 100% of the equity shares of Rajasthan Part I Power Transmission, including all associated assets and liabilities. The bid process coordinator will communicate the exact acquisition price twenty days before the deadline.

To be eligible, the bidder should have a track record of working on infrastructure projects in the last five years with a total capital expenditure of at least ₹133.7 billion (~$1.6 billion). Each of these projects should have had a capital expenditure of at least ₹26.74 billion (~$322.3 million).

For this requirement, the capital expenditure of projects completed and commissioned at least seven days before the bid deadline will be considered.

The bidder must have either executed these projects themselves or held a direct or indirect ownership stake of at least 26% in the company responsible for executing the projects. This ownership should have been maintained from the date of financial closure of the project until its commissioning or completion.

Additionally, the bidder should have received a total payment of at least ₹133.7 billion (~$1.6 billion) from clients for construction works that were fully completed during the last five financial years. Each project’s payment should not be less than ₹26.74 billion (~$322.3 million)

The bidder’s net worth for each of the last three financial years leading up to the bid deadline should not be less than ₹53.48 billion (~$644.6 million).

Recently, power transmission company Sterlite Power was awarded by RECPDCL the contract for an ISTS project to evacuate 20 GW of renewable energy in Rajasthan under  Phase-III Part F.

In May, RECPDCL invited bids to empanel consultants to undertake project management consultancy services for solar projects (floating solar and ground-mounted) at various locations across India for two years.