REC Power Development and Consultancy Limited (RECPDCL) has invited bids for selection of developers to develop 290 MW grid-connected solar project with an additional 290 MW greenshoe option. The project will be set up anywhere in India. The project will be set up on the basis of build, own, and operate model.
According to the tender guidelines, the bidders are required to furnish Rs 900,000 per MW as an earnest money deposit. The developer is required to submit Rs 1.75 million per MW of the total capacity as a performance bank guarantee. Furthermore, the developer will be responsible for bearing all the transmission set up related charges and losses. RECPDCL is serving as the bid coordinator on behalf of Prayagraj Power Generation Company (PPGCL). The winning bidder and PPGCL will sign a 25-year power purchase agreement (PPA). The project should be completed within 18 months from the date of signing the PPA. The bid submission deadline is December 12, 2023. Furthermore, RECPDL has mandated the use of indigenously manufactured solar modules listed in the Approved List of Models and Manufacturers.
Recently, in November 2023, RECPDCL issued tender for selection of a transmission service provider for setting up an inter-state transmission system to evacuate power from 5,500 MW renewable energy projects from Rajasthan’s renewable energy zone, phase IV.