Gujarat Floats 500 MW Wind Tender with Greenshoe Option

The last date to submit the bids is June 15, 2022

May 10, 2022

thumbnail

The Gujarat Urja Vikas Nigam Limited (GUVNL) has invited bids to purchase power through a competitive bidding process from 500 MW of grid-connected wind power projects (Phase-III) with the greenshoe option for an additional capacity of up to 500 MW.

The last date to submit the bids is June 15, 2022. Bids will be opened the following day.

Bidders will have to submit an earnest money deposit of ₹1 million (~$12,990)/MW (inclusive of 18% GST).

The successful bidder will have to furnish a performance bank guarantee of ₹2 million (~$25,980)/MW (inclusive of 18% GST) at the time of signing the power purchase agreement (PPA).

The minimum capacity a bidder can bid has been set at 25 MW.

GUVNL will enter into PPAs with the successful bidders for 25 years from the scheduled commercial operation date of the project or the date of full commissioning of the project, whichever is earlier.

Only certified wind turbine models listed in the Revised List of Models and Manufacturers (RLMM) prepared by the Ministry of New and Renewable Energy (MNRE) will only be allowed.

Projects under construction, projects which are not yet commissioned, and projects already commissioned but do not have any long-term PPA with any agency and selling power on a short-term or merchant plant basis will be considered.

Up to 500 MW of additional capacity through the greenshoe option will be offered to the successful bidders, who are willing to execute PPAs with GUVNL at the lowest tariff (L1 rate) s to the extent of their respective quoted capacity or higher quantum to the extent of greenshoe capacity.

Bidders should ensure pre-bid original equipment manufacturer and engineering, procurement, and construction (EPC) tie-ups with not less than three manufacturers for the design, engineering, supply, procurement, construction, and operation and maintenance.

The bidder’s net worth should not be less than ₹12 million (~$155,880)/MW of the quoted capacity as of the last day of the previous financial year. The net worth will be the cumulative net worth of the bidding company or consortium together with the networth of those affiliates of the bidder.

Any bidder from a country that shares a land border with India will be eligible to bid.

The project should be designed for interconnection with the state transmission utility or the central transmission utility through a dedicated transmission line to deliver energy at the Gujarat Energy Transmission Corporation (GETCO) periphery.

The successful bidder will be responsible for getting the grid connectivity from GETCO.

The bidder will be responsible for acquiring the land required to set up the project.

The successful bidder should declare the annual capacity utilization factor (CUF) of the project at the time of signing of PPA, and the same will be allowed to be revised once within the first three years. The declared annual CUF should not be less than 22%. The successful bidder should maintain generation to achieve annual CUF within + 20% and -20% of the declared CUF during the PPA duration of 25 years.

If, for any year, it is found that the successful bidder has not been able to generate minimum energy corresponding to the value of annual CUF within the permissible lower limit of CUF declared by the successful bidder, such a shortfall in performance should make the successful bidder liable to pay the compensation at 50% of the tariff to GUVNL.

In 2020, the Gujarat Electricity Regulatory Commission announced the tariff framework for wind power procurement by distribution licensees. The commission decided that the tariff for all wind projects in the state would be determined through competitive bidding, doing away with the practice of generic tariffs.

Subscribe to Mercom’s India Solar Tender Tracker to stay on top of tender activity in real-time.

RELATED POSTS

thumbnail
Top 5 States for Open Access Solar Installations in CY 2022

India added an impressive 2.5 GW open access solar capacity in 2022, registering a growth of 92% year-over-year (YoY), according to the 2022 Q4 & Annual Mercom India Solar Open Access Market Report. Karnataka emerged as the to...

March 23, 2023

Markets & Policy

Government Clarifies ALMM Enlistment Guidelines for Co-branded Solar Modules

The Ministry of New and Renewable Energy (MNRE) has modified the Approved List of Models and Manufacturers (ALMM) guidelines and provided exceptions to broaden the qualification criteria for modules produced under agreements betwe...

March 24, 2023

C&I

In Bengaluru, a 100 kW Solar System Can Save C&I Entities ₹1 Million Annually

Mercom India successfully concluded the C&I Clean Energy Meet 2023 in Bengaluru, where stakeholders in the solar sector and commercial and industrial entities converged to enthusiastically discuss the benefits of renewable ene...

March 24, 2023

Other

Gensol Acquires Solar Tracker Maker Scorpius for ₹1.35 Billion

Gensol Engineering, a part of solar engineering, procurement, and construction (EPC) company Gensol Group, has acquired India-based solar tracker manufacturer Scorpius Trackers for ₹1.35 billion ($16.4 million). Gensol said the ac...

March 23, 2023

Magazine

DON'T MISS AN ISSUE!

Mercom Cleantech Magazine

Get Your Copy Today!

magazines

Latest News

thumbnail
Government Clarifies ALMM Enlistment Guidelines for Co-branded Solar Modules

The Ministry of New and Renewable Energy (MNRE) has modified the Approved List of Models and Manufacturers (ALMM) guidelines and provided exceptions to broaden the qualification criteria for modules produced under agreements...

March 24, 2023

thumbnail
Intra-State Sections of Evacuation Infrastructure for Renewables Delayed

The Ministry of New and Renewable Energy (MNRE) told the Parliamentary Standing Committee on Energy that the intra-state stretches of the Green Energy Corridor (GEC) have been delayed due to various reasons, including...

March 24, 2023

thumbnail
EnBW Takes €2.4 Billion Final Investment Decision on Offshore Wind Project

German electric utility company Energie Baden-Wuerttemberg (EnBW) has made its final €2.4 billion (~$2.6 billion) investment decision on He Dreiht, a major wind project in the German North Sea. The project has a capacity of 960...

March 24, 2023

thumbnail
India Missed 2022 Renewables Target as Rooftop Solar and Wind fell Short

The Parliamentary Standing Committee on Energy report has isolated underwhelming progress on rooftop solar and wind energy projects as the primary reason for India falling short of achieving its renewable energy capacity target...

March 24, 2023

thumbnail
Researchers Aim to Accelerate Delivery of Space-Based Solar Power to Earth

Researchers at Northumbria University are studying ways of producing wireless electricity from space to Earth by harvesting the Sun’s energy. U.S.-based aerospace, defense, and information security organization Lockheed Martin...

March 24, 2023

thumbnail
Regulator Directs Wind Energy Firm, MSEDCL, to Recompute Delayed Payment Charge

The Maharashtra Electricity Regulatory Commission (MERC) recently directed Hindustan Petroleum Corporation (HPCL) and the Maharashtra State Electricity Distribution Company (MSEDCL) to recompute the delayed payment charge from...

March 24, 2023

thumbnail
One-Step Coating Could Make Perovskite Solar Cells Commercially Viable

The National Renewable Energy Laboratory (NREL) has devised a new way to produce perovskite solar cells that could speed its commercialization. Different layers are typically added sequentially to a conductive glass substrate to...

March 24, 2023

thumbnail
ACWA Power to Develop Solar and Energy Storage Projects in Uzbekistan

Saudi Arabia-based energy company ACWA Power has signed power purchase and investment agreements with  National Electric Grid of Uzbekistan, and the Ministry of Investment, Industry, and Trade to develop new solar and battery...

March 24, 2023

thumbnail
China Securities Regulatory Commission Approves Canadian Solar’s IPO

The China Securities Regulatory Commission has approved the registration of CSI Solar, the engineering, procurement, and construction arm of solar module maker Canadian Solar, to issue an initial public offering (IPO). The...

March 24, 2023

thumbnail
Renewables Accounted for 83% of the Total Generation Capacity Added in 2022

Renewable capacity grew by 9.6% in 2022, adding a record 295 GW worldwide. This accounts for 83% of all power capacity added last year and brings the global renewable generation capacity to 3,372 GW by the end of last year, a...

March 24, 2023

MORE NEWS