Power sector lender REC Ltd’s distribution arm REC Power Distribution Company Ltd (REC-PDCL) has emerged as the lowest bidder in SECI’s 10 MW solar project tender in Rajasthan.
Further, this 10 MW solar power plant will be built on BOO (Build-Own-Operate) basis at Bagru Kala Town of Jaipur District in Rajasthan.
As per the request for selection (RfS) invited by the state-owned Solar Energy Corporation of India Ltd (SECI), the Jaipur Development Authority (JDA) will enter into a Power Purchase Agreement (PPA) with the successful bidder for purchase of solar power for a period of 25 years.
Moreover, the projects will be connected to the Rajasthan Rajya Vidyut Prasaran Nigam Ltd (RVPNL) grid substation, Bagru at 33 kV and will be set up on 15-hectare land owned by JDA.
On winning the project, REC said that “REC-PDCL’s success in winning this project at a MW scale through e-reverse auction (e-RA) signifies the company’s competitiveness and commitment of REC and its subsidiaries towards promoting renewable energy in line with the covenants of the Paris Agreement and with the national target of 175 GW of renewable energy by 2022.”
REC-PDCL is engaged in the businesses of project implementation and consultancy services in the power sector.
As on March 31, 2020, RECPDCL was working on about 100 on-going projects spread across 57 Discoms / power departments / co-operative societies in 26 States and 4 Union Territories.
During the financial year 2019-20, RECPDCL’s Total Revenue and Profit After Tax were Rs 143.01 crore and Rs 12.47 crore respectively, and its Net Worth as on March 31, 2020 was Rs 168.20 crore.
Solar+Storage, Smart Energy Management and Energy Efficiency is the Future for Solar PV
We are not far behind China if we focus on building ecosystem for battery manufacturing.
Kadri Simson, European Commission discusses about The European Green Deal & its future RE plans