Mint ·
CESL sweetens PM E-bus Sewa tender terms, raises single-bidder limit
CESL also allows bidders to include fresh equity raised in 2026-27 towards their net worth.
Convergence Energy Services Ltd (CESL) has added Haryana’s demand for 450 electric buses to its third tender under the Centre’s PM E-bus Sewa scheme, taking the total order size to 4,054 buses, along with changes to the conditions to sweeten the deal, documents reviewed by Mint showed.
The tender, whose closing date has been deferred at least five times, now allows a single entity to bid for 2,717 buses, up from 2,400 earlier.
The tender also allows bidders to include fresh equity raised in 2026-27 towards their net worth, a significant change given that electric buses cost ₹1.2-1.3 crore—more than twice as much as diesel buses, according to industry stakeholders' estimates.
