GUVNL Invites Bids for 600 MW of Solar Power Projects with Greenshoe Option

The last date to submit the bids online is August 1, 2023


Gujarat Urja Vikas Nigam (GUVNL) has invited bids for the purchase of power from 600 MW of grid-connected solar power projects (Phase XXI) to be set up at the Gujarat Industries Power Company’s (GIPCL) solar park in Khavda, Gujarat, with a greenshoe option of an additional 600 MW.

The last date to submit the bids online is August 1, 2023. Bids will be opened on August 4.

Bidders are required to submit ₹300,000 (~$3,659) plus GST as a bid processing fee. Bidders must submit ₹400,000 (~$4,879)/MW as an earnest money deposit.

The successful bidder must furnish an amount equivalent to ₹800,000 (~$9,757)/MW as a performance bank guarantee after the issuance of the letter of intent and before the signing of the power purchase agreement (PPA).

The select developer should connect the power project to 220 kV/400 kV/765 kV substation through a 33/400 kV internal pooling substation of the solar park to be developed by the developer by laying 33 kV cable up to low voltage bus bar of the pooling substation.

The successful bidders must sign PPAs with GUVNL within 60 days of receiving the letter of intent.

Only commercially established and operational technologies can be used to minimize the technology risk and to achieve the timely commissioning of the projects.

The net worth of bidders as of the last date of the previous financial year should not be less than ₹8 million (~$97,574)/MW of the quoted capacity.

Any bidder from a country that shares a land border with India will be eligible to bid in this tender condition that they are registered with the competent authority.

The projects’ declared annual capacity utilization factor (CUF) should not be less than 17%. The successful bidder must maintain generation so as to achieve annual CUF within + 10% and -15% of the declared value until the end of ten years from the commercial operation date, subject to the annual CUF remaining a minimum of 15% and within +10% and – 20% of the declared value of the annual CUF thereafter until the end of the PPA duration of 25 years.

The solar modules to be used for the projects must be warranted for peak output wattage, which should not be less than 90% at the end of ten years and 80% at the end of 25 years from the project’s commercial operation date.

GUVNL has mandated the use of solar modules listed on the Approved List of Models and Manufacturers (ALMM) issued by the Ministry of New and Renewable Energy.

Recently, KPI Green Energy, SAEL Industries, and NLC India won GUVNL’s auction to develop 800 MW of grid-connected solar power projects (Phase XX) at the Khavda Solar Park in Gujarat.

According to Mercom’s India Solar Tender Tracker, GUVNL has floated tenders for 12.8 GW of solar projects.