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REC Power Development Calls for Bids on 290 MW Solar Power Projects

The tender, inclusive of a greenshoe option for an additional 290 MW capacity on a Build, Own, Operate (B-O-O) basis, requires solar power developers to take charge of land and connectivity.

November 21, 2023. By News Bureau

REC Power Development and Consultancy Limited (RECPDCL), a subsidiary of REC Limited under the Ministry of Power, has announced an invitation for proposals from solar power developers to establish 290 MW grid-connected solar power projects.

The initiative, conducted through a tariff-based competitive bidding process, aims to enhance flexibility in the generation scheduling of thermal/hydro power stations by bundling with renewable energy and storage power.

The tender, inclusive of a greenshoe option for an additional 290 MW capacity on a Build, Own, Operate (B-O-O) basis, requires solar power developers to take charge of land and connectivity.

As a financial commitment, developers are obligated to submit an Earnest Money Deposit of INR 9,00,000 per MW per project. The online submission deadline for bids is set for December 12, 2023, while the hard copy submission deadline is December 14, 2023. The bid opening is scheduled for December 15, 2023.

RECPDCL is acting as the bid coordinator, with Prayagraj Power Generation Company Limited, a thermal power generating firm from Uttar Pradesh, serving as the procurer.

Additionally, developers must provide a Performance Bank Guarantee (PBG) of INR 17,50,000 per MW within seven working days before signing the Power Purchase Agreement (PPA).

For projects situated outside Uttar Pradesh, the delivery point/metering point is designated as the Uttar Pradesh periphery, where the CTU network connects to the Intra-State Transmission network of Uttar Pradesh.

The bidder or solar power developer is responsible for covering all associated charges and losses, including STU transmission charges, ISTS systems usage charges, connectivity charges, GNA access charges, and other incidental transmission charges until the delivery point, as applicable.

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Prayagraj Power Generation Company