GUVNL Invites Bids for 800 MW Solar Projects with Greenshoe Option

The last day to submit the bids is June 15, 2023


Gujarat Urja Vikas Nigam (GUVNL) has invited bids for 800 MW of grid-connected solar projects (Phase XX) at the Khavda Solar Park in Gujarat with a greenshoe option of an additional capacity of 800 MW.

The last day to submit the bids is June 15, 2023. Bids will be opened on June 19.

Bidders must submit a bid processing fee of ₹300,000 (~$3,621) plus 18% GST and ₹400,000 (~$4,828)/MW as an earnest money deposit.

The successful bidder will have to furnish ₹800,000 (~$9,656)/MW as a performance bank guarantee after issuing the letter of intent and before signing the power purchase agreement (PPA).

GUVNL will enter into a PPA with successful bidders for 25 years from the scheduled commercial operation date of the project.

Bidders will be allowed to bid for a minimum of 100 MW capacity and in multiples of 100 MW only.

The net worth of bidders should not be less than ₹8 million (~$96,564)/MW of the capacity quoted.

The project should be designed to deliver energy at the Gujarat Energy Transmission Corporation (GETCO) periphery. The successful bidder will be responsible for getting the grid connectivity with GETCO or the central transmission utility.

The developer must pay all expenses, including transmission and wheeling charges and losses between the project and the delivery point, without any reimbursement by GUVNL. All expenses, including wheeling charges and losses about the transmission and distribution beyond the delivery point, will be borne by GUVNL.

The declared annual capacity utilization factor (CUF) should not be less than 17%. The successful bidder should maintain generation to achieve annual CUF within + 10% and -15% of the declared value till the end of ten years from the commercial operation date, subject to the annual CUF remaining a minimum of 15% of the declared annual CUF after that until the end of 25 years.

The solar modules to be used in the solar power 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.

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

Also, solar modules to be used in the projects should be from the Approved List of Models and Manufacturers issued by the Ministry of New and Renewable Energy.

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

NHPC, SJVN Green Energy, and NTPC Renewable Energy won Gujarat Urja Vikas Nigam’s auction to supply power from 600 MW of grid-connected solar power projects (Phase XVII) at the Khavda Solar Park in Gujarat.

According to Mercom’s India Solar Tender Tracker, GUVNL has floated tenders for 12.3 GW of solar projects.