REC Power Development and Consultancy (RECPDCL) has invited bids to acquire 200 MW of operational solar, wind, or wind-solar hybrid power projects without storage.

The last date to submit the bids is May 27, 2024. Bids will be opened the next day.

The project should have a remaining useful life of at least 15 years from the bid submission deadline. Each bidder can submit bids for a maximum of two projects.

RECPDCL should be able to purchase 100% shareholding in the project.

The power purchase agreement or power sale agreement should cover the entire capacity of the project. The agreement must be with any central government agency, state power distribution companies (DISCOMs), or any renewable energy implementing agency such as SECI, NTPC, NHPC, or SJVN.

The project’s turnover during the last financial year should be ₹700 million (~$8.38 million).

The project should be in continuous operation for the last 18 months with a minimum of 95% machine availability. The offered project should have a single point of injection into the grid. The projects should have connectivity with DISCOM, state, or central substation.

Parties operating and maintaining the offered project must continue to provide the services for the remaining contract period on the existing terms and conditions.

The project’s long-term debt instruments must have an external credit rating of BBB+ or higher from CARE, ICRA, India Ratings, or CRISIL.

Three projects will be shortlisted based on the highest return on capital employed. The shortlisted parties must then submit an earnest money deposit of ₹50,000 (~$598)/MW.

The acquired projects should be fully guaranteed against manufacturing defects, poor workmanship, or inferior quality for 12 months from the acquisition date. During this period, the successful bidder must arrange for repair or replacement free of cost.

Recently, RECPDCL floated a tender to set up 223 MW inter-state transmission system-connected solar power projects.

In December 2023, RECPDCL floated a tender to set up 250 MW ISTS-connected solar power projects with an additional greenshoe option of 250 MW.

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