Tender Issued for Consultancy on Procuring Renewable Energy Certificates

Rashtriya Chemicals and Fertilizers Limited (RCF), a Government of India undertaking, has issued a notice inviting tender for consultancy services to facilitate renewable energy certificates (REC) purchase to meet its renewable power purchase obligation (RPO) targets.

The last date to submit online bids is February 16, 2022. Bids will be opened on the same day.

The scope of work includes registration of RCF with the power exchanges like Indian Energy Exchange (IEX) and Power Exchange India Limited (PXIL). The consultancy firm should also help in decision-making regarding the procurement of RECs, obtaining fund transfers from power exchanges, and financial settlement with power exchanges.

Given the captive power generation by RCF, the selected consultancy must help fulfill the RPO obligation under the MERC regulation for the state of Maharashtra.


Maharashtra Energy Development Agency (MEDA) allotted the following targets for 2020-21 to 2024-25 for Maharashtra.

Maharashtra's Renewable Power Purchase Obligation (RPO) Targets

The successful bidder must also analyze the demand-supply scenario in the REC market and the expected solar and non-solar RECs pricing.

The contract will be valid for 24 months from the date of issuance of the work order.

To participate in the competitive bidding process, bidders must submit documentary evidence of at least one similar order in the past seven years. In the last three financial years, their annual average financial turnover must be at least ₹170,000 (~$2,275).

RCF said micro and small enterprises (MSEs) should register their Udyog Aadhar Memorandum (UAM) number on Central Public Procurement (CPP) Portal to avail benefits as per the policy of the Ministry of Micro, Small, and Medium Enterprises (MSME).

If the participating MSE bidder quotes within a price band of the lowest bid (L1)+15%, the bidder will be awarded the total contract subject to the bidder’s acceptance of the L1 price. In the case of more than one such MSE bidders, the L1 price would be offered to the MSE quoting the lowest price among the L1+15% band. If the MSE decline to match the L1 price, the contract should be provided to subsequent MSE bidders in the L1+15% band.

In December 2021, Uttarakhand Power Corporation Limited invited bids to select traders to purchase and sell energy, RECs, and energy-saving certificates through exchanges.

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