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RECPDCL seeks expression of interest to acquire operational renewable energy assets with capacity of 200 MW

Representative image. Source: Canva

RECPDCL invites bids for procurement of operational 200 MW solar, wind or hybrid projects

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REC Power Development and Consultancy (RECPDCL) invites bids for procurement of operational 200 MW solar, wind or hybrid wind-solar non-storage projects.

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The deadline for submitting offers is May 27, 2024, and the offers are scheduled to open the following day.

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Eligible projects must have a remaining useful life of at least 15 years from the bid submission deadline, and each bidder may bid for a maximum of two projects.

RECPDCL seeks to acquire 100% stake in the projects by entering into power purchase or sale agreements covering the entire project capacity with central government agencies, state-owned power distribution companies (DISCOMs) or renewable energy implementing agencies such as SECI, NTPC, NHPC or SJVN.

The project’s turnover in the last financial year should be at least ₹70 crore.

The projects should be operational continuously for the last 18 months with a minimum machine availability of 95% and one grid injection point connected to a DISCOM, state or central station.

Maintenance services must continue in accordance with applicable terms and conditions and long-term debt instruments must have an external credit rating of BBB+ or above from CARE, ICRA, India Ratings or CRISIL.

The three projects will be shortlisted based on the highest return on capital employed and shortlisted parties will be required to put up a serious cash deposit of £50,000/MW.

Purchased designs should be fully guaranteed against manufacturing defects, poor workmanship or inferior quality for 12 months from the date of acquisition, with the successful bidder responsible for arranging free repair or replacement during this period.