REMC invites bids for 695 MW RTC Power from renewable projects
POWER & RENEWABLE ENERGY

REMC invites bids for 695 MW RTC Power from renewable projects

REMC is seeking bids for the procurement of 695 MW of continuous, round-the-clock (RTC) power from grid-connected renewable energy projects. These projects, with or without storage, will operate in conjunction with the existing 500 MW Ircon Renewable Power (IRPL) and 195 MW Rewa Ultra Mega Solar (RUMSL) solar projects.

The proposed RTC power supply will complement the existing power generated by the IRPL and RUMSL solar projects. The selected project developer will be responsible for supplying power during time blocks when the existing projects are not generating power, ensuring fulfillment of annual and time block availability requirements.

Bidders are required to submit separate bids for the two tandem projects. The deadline for bid submissions is February 14, 2024, with bid openings scheduled for February 16.

To participate, bidders must pay a bid processing fee of Rs 1 million (~$12,044) and provide an earnest money deposit of Rs 980,000 (~$11,803) per MW for each program.

Successful bidders are obligated to submit a performance bank guarantee of Rs 2 million (~$24,089) per MW at least seven working days before signing the power purchase agreement (PPA). Additionally, a success charge of Rs 100,000 (~$1204) per MW is required.

The minimum bid capacity is set at 100 MW for the IRPL project and 50 MW for the RUMSL project. The projects are expected to maintain an annual availability of 75% for the initial four years, increasing to 85% for the remaining contract years. Time-block-wise availability necessitates a minimum project availability of 50% throughout the contract tenure.

Developers are responsible for acquiring the land for the projects, and commissioning should take place within 24 months of signing the PPA.

The tariff is anticipated to be mutually agreed upon by all parties involved, with the tariff for each year levelized based on a discounting factor of 7.7%.

REMC is seeking bids for the procurement of 695 MW of continuous, round-the-clock (RTC) power from grid-connected renewable energy projects. These projects, with or without storage, will operate in conjunction with the existing 500 MW Ircon Renewable Power (IRPL) and 195 MW Rewa Ultra Mega Solar (RUMSL) solar projects. The proposed RTC power supply will complement the existing power generated by the IRPL and RUMSL solar projects. The selected project developer will be responsible for supplying power during time blocks when the existing projects are not generating power, ensuring fulfillment of annual and time block availability requirements. Bidders are required to submit separate bids for the two tandem projects. The deadline for bid submissions is February 14, 2024, with bid openings scheduled for February 16. To participate, bidders must pay a bid processing fee of Rs 1 million (~$12,044) and provide an earnest money deposit of Rs 980,000 (~$11,803) per MW for each program. Successful bidders are obligated to submit a performance bank guarantee of Rs 2 million (~$24,089) per MW at least seven working days before signing the power purchase agreement (PPA). Additionally, a success charge of Rs 100,000 (~$1204) per MW is required. The minimum bid capacity is set at 100 MW for the IRPL project and 50 MW for the RUMSL project. The projects are expected to maintain an annual availability of 75% for the initial four years, increasing to 85% for the remaining contract years. Time-block-wise availability necessitates a minimum project availability of 50% throughout the contract tenure. Developers are responsible for acquiring the land for the projects, and commissioning should take place within 24 months of signing the PPA. The tariff is anticipated to be mutually agreed upon by all parties involved, with the tariff for each year levelized based on a discounting factor of 7.7%.

Next Story
Infrastructure Urban

Goa Approves Rs 1.92 Billion Mapusa Bus Stand Project

The Goa state government has announced plans to construct a new, modern bus stand in Mapusa, addressing a long-standing demand from Bardez residents. The project, to be executed under a public-private partnership (PPP) model, will involve an investment of approximately Rs 1.92 billion.The decision comes after reports highlighted the deteriorating condition of the existing bus stand, which suffers from potholes, garbage accumulation and waterlogging during the monsoon.The new bus stand will be developed over an area exceeding 27,000 square metres and will offer significant improvements, includi..

Next Story
Infrastructure Transport

Maharashtra Approves Rs 23.49 Billion Metro Line 11 Project

The Maharashtra government has approved the Rs 23.49 billion Metro Line 11 (Green Line) project, which will link Wadala to the Gateway of India through 14 stations, aiming to reduce congestion in central and south Mumbai. According to a resolution from the state’s urban development department (UDD), the Brihanmumbai Municipal Corporation (BMC) will contribute Rs 2.41 billion and the Mumbai Port Authority (MbPA) Rs 804 million, as the line improves connectivity in their areas. The state and central governments will each provide Rs 3.14 billion.In case of cost overruns, local authorities are r..

Next Story
Infrastructure Transport

Mumbai’s CSMT Metro Station Nears Completion on Aqua Line

The construction of the Chhatrapati Shivaji Maharaj Terminus (CSMT) Metro station on the Mumbai Metro-3 Aqua Line is nearing completion. Photos shared by X user @haldilal reveal the station’s striking arched entrance, glasswork and modern façade.Known as the Aqua Line, Metro 3 is Mumbai’s first fully underground corridor. It spans 33.5 km between Cuffe Parade (Colaba) and Aarey, with 27 stations — 26 underground and one at grade.The Three Phases of Metro-3Phase 1 – Aarey to Bandra-Kurla Complex (BKC): The 12.69 km section opened to the public on 7 October 2024.Phase 2A – BKC to Worl..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?