Railway Energy Management Company Limited (REMCL), a joint venture between Indian Railways and RITES Limited, has floated tender to select developers for supplying round-the-clock (RTC) power from 750 MW grid-connected clean projects, with or without storage. The bid submission deadline was October 30, 2023.
According to the tender guidelines, the bidders are required to submit Rs 980,000 per MW as an earnest money deposit. Within seven days of signing the power purchase agreement, the developers are required to furnish Rs 2 million per MW as a performance bank guarantee. The developer will be responsible for acquiring the required land for the project. Additionally, the bidder is required to offer a minimum capacity of 100 MW.
Furthermore, REMCL has mandated the use of indigenously manufactured solar modules listed in the Approved List of Models and Manufacturers. Additionally, under the tender, only wind-turbine models listed in Revised list of Models and Manufacturers will be allowed.
In May 2023, Ayana Renewable Power Private Limited obtained a contract to supply 300 MW RTC renewable energy to REMCL.
In April 2023, Sprng Akshaya Urja, NTPC Renewable Energy Limited, Project Nine Renewable electricity, and TEQ Green Power XIII bagged REMCL’s auction to deliver 1 GW of RTC electricity from grid-connected renewable power projects with or without storage for 25 years.