REC Power Development and Consultancy (RECPDCL) has floated a tender to set up 223 MW Inter-State Transmission System (ISTS)-connected solar power projects anywhere in India.

The projects will be developed under the program for flexibility in generating and scheduling thermal or hydropower stations through bundling with renewable energy and storage.

The last date for the submission of bids is May 13, 2024. Bids will be opened on May 16.

The tender fee, including GST, amounts to ₹29,500 (~$353). Bidders should also submit a bid processing fee of ₹500,000 (~$5,993) for each project from 50 MW up to 99 MW and ₹1.5 million (~$17,983) from 100 MW and above.

Bidders must furnish an earnest money deposit of ₹900,000 (~$10,788)/MW per project.

Successful bidders must deposit a performance bank guarantee of ₹1.75 million (~$20,977)/MW within seven working days before signing the power purchase agreement.

A bidder, including its parent, affiliate, ultimate parent, or any group company, can submit a single bid for a minimum of 50 MW and a maximum of 223 MW.

Bidders can set up the cumulative project capacity at a single location or sub-divided into several blocks of 5 MW or higher.

The minimum voltage requirement for interconnection at the ISTS is 220 kV. The solar power developer will be responsible for setting up the land and connectivity.

The bidders’ net worth should be at least ₹10 million (~$119,855)/ MW of the quoted capacity as of the last date of the previous financial year or on the day at least seven days before the bid submission deadline.

Their minimum annual turnover must be ₹5 million (~$59,927) /MW of the quoted capacity during the last three financial years.

Bidders must have an internal resource generation capability in the form of profit before depreciation interest and taxes for a minimum amount of ₹830,000 (~$9,948)/ MW of the quoted capacity, as on the last date of the previous financial year or as on the day at least seven days before the bid submission deadline.

They must present an in-principle sanction letter from their lending institutions or banks, committing a line of credit for a minimum of ₹1.04 million (~$12,465)/ MW of the quoted capacity towards meeting the working capital requirement of the quoted project capacity.

The modules used in the project must be listed in the latest Approved List of Models and Manufacturers issued by the Ministry of New and Renewable Energy.

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

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