RECPDCL Seeks Expressions of Interest for Acquisition of 200 MW Operational Renewable Energy Assets

RECPDCL Calls for Bids to Acquire 200 MW Operational Solar, Wind, or Wind-Solar Hybrid Projects

REC Power Development and Consultancy (RECPDCL) is soliciting bids for the acquisition of 200 MW operational solar, wind, or wind-solar hybrid projects without storage.

The deadline for bid submissions is May 27, 2024, with bid openings scheduled for the following day.

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

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

Project turnover during the last financial year should be a minimum of ₹70 crore.

Projects should have been in continuous operation for the last 18 months with a minimum machine availability of 95% and a single point of injection into the grid, connected to DISCOM, state, or central substations.

Maintenance services must continue as per existing terms and conditions, and long-term debt instruments must have an external credit rating of BBB+ or higher from CARE, ICRA, India Ratings, or CRISIL.

Shortlisting of three projects will be based on the highest return on capital employed, with shortlisted parties required to submit an earnest money deposit of ₹50,000/MW.

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