GUVNL Invites Bids for 300 MW Wind Projects with Greenshoe Option

The last date to submit the bids is February 21, 2024


Gujarat Urja Vikas Nigam (GUVNL) has invited bids for the purchase of power from 300 MW of grid-connected wind projects to be set up anywhere in India (Phase VII) with a greenshoe option of an additional 300 MW.

The last date to submit the bids is February 21, 2024. Bids will be opened on February 26.

Bidders must pay a non-refundable bid processing fee of ₹300,000 (~$3,608) plus 18% goods and service tax and an earnest money deposit of ₹1.3 million (~$15,638)/MW of the quoted capacity.

The successful bidder must remit ₹3.2 million (~$38,497)/MW of the allotted capacity as a performance bank guarantee at the time of the power purchase agreement (PPA) signing.

The eligible bid capacity for intra-state projects will be a minimum of 25 MW; for inter-state projects, it will be a minimum of 50 MW.

Projects under construction, projects that are not yet commissioned, and projects already commissioned but do not have any long-term committed PPA with any agency and selling power on a short-term basis will be considered. These projects should not already be accepted under any other central or state programs and should not have any obligation toward existing buyers.

Only wind turbine models certified in the Ministry of New and Renewable Energy’s Revised List of Models and Manufacturers must be used.

The wind project developer will be responsible for the design of interconnection with the state transmission utility or central transmission utility (CTU) through a dedicated transmission line for the delivery of energy at the Gujarat Energy Transmission Corporation periphery.

In the case of inter-state projects and projects connected through the CTU Network, all transmission charges and losses up to the delivery point will be to the account of the wind project developers.

The wind project developer must commission the projects within 24 months of signing the PPA. The minimum capacity for acceptance for the first part of commissioning will be 10 MW (intra-state projects) / 50 MW (inter-state projects) or 50% of the allocated capacity, whichever is lower.

Bidders must establish pre-bid original equipment manufacturer/ engineering, procurement, and construction tie-ups with a minimum of three manufacturers, covering aspects such as design, engineering, supply, procurement, construction, operation, and maintenance.

Bidders must have a net worth of not less than ₹12.7 million (~$152,774)/MW of the quoted capacity in any one of the last three financial years.

Wind project developers from countries that share a land border with India are also allowed to participate in the tender as long as they are registered with the authorized body.

Earlier, GUVNL invited bids to procure power from 500 MW grid-connected hybrid renewable energy projects with the possibility of expanding the capacity by an additional 500 MW through the greenshoe option.

According to Mercom India Research, GUVNL has so far tendered 2.8 GW of wind power projects across Phase I to V.