- The deadline for bid submission is December 29, 2023, with the bid opening scheduled for January 2, 2024
- Each bid must be accompanied by an earnest money deposit (EMD) of ₹900,000 per MW per project
REC Power Development and Consultancy (RECPDCL) has announced a tender to establish a 250 MW Inter-State Transmission System (ISTS) connected to solar power projects across India, with an additional greenshoe option of 250 MW.
Bidders interested in participating in this opportunity are required to adhere to several key terms and conditions. Firstly, there is a tender fee of ₹29,500, which includes GST. Additionally, bidders must submit a bid processing fee amounting to ₹15 lakhs plus 18% GST.
To be eligible, solar power developers must ensure that their projects meet a minimum voltage requirement of 220 kV for interconnection with the Interstate Transmission System (ISTS). The chosen developer will also be responsible for land acquisition and the development of connectivity infrastructure.
Each bid must be accompanied by an earnest money deposit (EMD) of ₹900,000 per MW per project. Successful bidders must provide a performance bank guarantee of ₹17.5 lakhs per MW within seven working days before executing the power purchase agreement.
Bidders should be aware that a single entity, including its parent, affiliate, or ultimate parent, is limited to submitting one bid for a maximum capacity of 250 MW. The total capacity allotted to a bidder, including greenshoe options, should not exceed 500 MW.
If a bidder intends to establish multiple projects, each must have distinct physical attributes, including boundary walls, injection points, and metering arrangements. Submitting multiple bids under the same company will result in the disqualification of all bids from the group.
The main objective of this tender is to promote the use of proven and operational solar technologies to minimize technology risks and ensure timely project commissioning. All modules used in the project must be listed in the latest Approved List of Models and Manufacturers issued by the Ministry of New and Renewable Energy.
Bidders must demonstrate a track record of successfully commissioning solar power generation projects with a combined capacity of at least 500 MW. Additionally, within the five years leading up to the bid deadline, bidders must have successfully commissioned a single project with a minimum capacity of 200 MW.
To qualify, bidders must have a net worth equal to or exceeding ₹1 Crore per MW, based on the financial status as of the last date of the previous financial year (FY 2022-23) or at least seven days before the bid submission deadline.
The deadline for bid submission is December 29, 2023, with the bid opening scheduled for January 2, 2024.