REC Limited is seeking bids to empanel project management agencies for renewable energy projects in India. This empanelment is for the next two years. The project is divided into four phases: pre-disbursement, implementation, after commissioning, and post-commissioning. The bidders will be tasked with drafting the due diligence report, compliance chart of conditions, and disbursement certificate. They will also be responsible for preparing progress and utilisation reports and project completion reports and conducting project engineering reviews. The bid submission deadline is June 13, 2022.
As per the tender guidelines, to be eligible for the bidding process, the bidders must submit an earnest money deposit of Rs 500,000. The winning bidders must furnish performance security equivalent to 3 per cent of the total contract value. The empanelment is valid for two years at first, but can be extended for another year when project management agencies’ performance is evaluated. The rates quoted will be valid for the entire period, including the extended period. The bidders must have been in company for at least three years and have a financial turnover of at least Rs 100 million in the three years prior to March 31, 2021.