REC Limited Invites Tender for Land Due Diligence and Security Documentation Services for Adani Solar Energy’s 150 MW Solar Power Plant at Rajasthan

The Rural Electrification Corporation Limited (REC) has announced a new tender for the engagement of Lender’s Legal Counsel, detailed in the Terms of Reference and Scope of Work outlined in Annexure – A. The scope provided is indicative and subject to change, with the entire work expected to be completed within two months from the date of the letter of award. Extensions to this period may be granted at REC’s discretion, but no additional fees will be provided.

Professional Fee and Submission Details: Bidders are required to submit their quotations on a lump-sum basis for professional fees, charges, and expenses, excluding GST. The fee should cover all costs, including site visits, verification of permissions, and obtaining certified copies. The financial bid must be submitted online via REC’s e-procurement portal at https://rec.ewizard.in. For evaluation purposes, only the total bid price excluding GST will be considered.

Team Requirements: Bidders must provide the names and professional profiles of team members involved in the assignment, who should have experience in Land Due Diligence. REC reserves the right to suggest alternative team members if necessary. The Title Search Report must be completed by the successful bidder or their local counsel.

Conflict of Interest and Payment Terms: Bidders must submit a signed certificate confirming no conflict of interest. Payment will be made in two instalments:

1. 40% after submission of the final draft of the Title Search Report.
2. 60% after submission of the signed Title Search Report, execution of mortgage documents, and submission of the enforceability opinion.

Additional Conditions:

• No advance payments will be made, and only the lump sum fee quoted will be payable.
• Bidders must bear all costs associated with preparing and submitting their bid. REC will not be responsible for these costs.
• REC may amend the bidding documents at its discretion before the submission deadline.
• Late bids will be rejected or returned unopened.
• REC reserves the right to annul the bidding process or reject any or all bids without assigning reasons or incurring liability.

Tender Timeline:

• Date of Release: July 31, 2024
• Last Date for Submission: August 7, 2024, by 14:00 Hours (IST)
• Date & Time of Opening: August 7, 2024, at 14:30 Hours (IST)

The contract will be awarded to the lowest evaluated bid, excluding GST, provided the bidder meets the qualification criteria. The letter of award will be issued via email to the selected bidder. The selected bidder must not disclose the contract details or documents to third parties without REC’s prior written consent.

For further details refer the tender document Here: