Rajasthan Solar Park Development Company Limited (RSDCL), a subsidiary of the Rajasthan Renewable Energy Corporation Limited (RRECL), has invited proposals from SEBI-registered credit rating agencies to conduct an Issuer Credit Rating for the company. Through the Request for Proposal (RFP), RSDCL aims to obtain an independent evaluation of its financial and operational strength to support its future funding and business expansion plans.
RSDCL plays an important role in developing large-scale solar parks in Rajasthan and has successfully implemented several major renewable energy projects. These include Phase I (75 MW) and Phase II (680 MW) of the Bhadla Solar Park, as well as Phase III (925 MW) of the Nokh Solar Park. The company has established itself as one of the key Solar Power Park Developers (SPPDs) in the state, contributing significantly to India’s renewable energy capacity.
The issuer credit rating will provide an independent assessment of RSDCL’s financial strength, creditworthiness, liquidity position, operational performance, and risk management practices. A recognized credit rating is expected to improve the company’s financial credibility and strengthen confidence among lenders, investors, government organizations, and business partners. It will also support the company in accessing a wider range of funding options and meeting future borrowing requirements.
According to the RFP schedule, the document was issued on July 29, 2026, while bid submissions opened on July 31, 2026. Interested credit rating agencies are required to submit their original and unconditional price bids in sealed envelopes by August 10, 2026, before 2:30 PM IST. The physical submission of the Tender Fee demand draft must also be completed by 4:00 PM on the same day. Technical and financial proposals will be opened at 3:30 PM on August 10, 2026. All submitted bids will remain valid for a period of 90 days from the bid due date.
The selected credit rating agency will be required to complete the assignment within 30 days from the date of engagement. However, the timeline may be extended through mutual agreement if necessary.
The tender fee has been fixed at ₹1,180, including GST, and must be paid through a Demand Draft in favor of the Chairman & Managing Director, Rajasthan Solar Park Development Company Limited, payable at Jaipur. The RFP does not require an Earnest Money Deposit (EMD). However, the successful bidder must furnish a Performance Security equivalent to 5% of the total work order value. This security may be submitted in the form of a Demand Draft, Banker’s Cheque, or Bank Guarantee in favor of the Chairman & Managing Director, Rajasthan Renewable Energy Corporation Limited.
The contract will be awarded to the bidder offering the lowest financial quotation (L1). Under the payment terms, 40% of the agreed fee will be released after the submission of the provisional credit rating, subject to applicable tax deductions, while the remaining 60% will be paid after the final issuer credit rating is delivered. Through this initiative, RSDCL is taking another step toward strengthening its financial profile and supporting the long-term growth of renewable energy infrastructure in Rajasthan.
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