RECPDCL issues bid invitation for 200MW green projects procurement

14 May 2024 CW Team

REC Power Development and Consultancy (RECPDCL) has issued an invitation for bids to procure 200 MW of operational solar, wind, or wind-solar hybrid power projects, excluding storage. The deadline for bid submissions is May 27, 2024, with bid openings scheduled for the following day. The projects must have a remaining useful life of at least 15 years from the bid submission deadline. Each bidder can submit bids for up to two projects, with RECPDCL aiming to acquire 100% shareholding in each project. The power purchase agreement or power sale agreement must encompass the entire project capacity and involve either a central government agency, state power distribution companies (DISCOMs), or recognised renewable energy implementing agencies such as SECI, NTPC, NHPC, or SJVN. The project should have generated a turnover of $8.38 million in the last financial year and maintained continuous operation for the past 18 months, with a minimum machine availability of 95%. Additionally, the project should offer a single point of injection into the grid and have connectivity with DISCOM, state, or central substations. The parties responsible for operating and maintaining the project must continue to do so under the existing terms and conditions. Long-term debt instruments associated with the project must possess an external credit rating of BBB+ or higher from CARE, ICRA, India Ratings, or CRISIL. Three projects will be shortlisted based on the highest return on capital employed, and shortlisted parties must provide an earnest money deposit of $598/MW. Acquired projects are required to 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 at no cost during this period. Additionally, RECPDCL recently issued a tender for the establishment of 223 MW inter-state transmission system-connected solar power projects, and in December 2023, floated a tender for 250 MW ISTS-connected solar power projects, with an additional greenshoe option of 250 MW. (Source: Mercom)

Real Estate

17 Sep 2025

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..

Govt Plans Six-Month Import Relief for E-Bus, Truck Makers

The government is considering a six-month relaxation for electric bus and truck manufacturers, allowing them to import fully assembled motors containing heavy rare earth materials without losing eligibility for incentives under the Rs 109-billion PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-Drive) scheme.The relief is expected to benefit companies such as Tata Motors, Ashok Leyland, PMI Electro Mobility, JBM Auto, EKA Mobility, Olectra Greentech, Propel, and IPLT Demo. The exemption will apply provided all other localisation requirements are met.However, officials clari..