Bidders can furnish letter of undertaking instead of bank guarantees for renewable power projects

In a statement, the Ministry of New and Renewable Energy (MNRE) said Singh "has approved a proposal for acceptance of Letter of Undertaking issued by IREDA, PFC and REC in lieu of bank guarantees for Earnest Money Deposit (EMD) by SECI (Solar Energy Corporation of India).

from Energy-Industry-Economic Times https://ift.tt/2Z4F40k