Gandhinagar-based International Financial Services Center GIFT Power Company has invited bids to procure 9 MW of hybrid renewable energy (solar and wind) in the long, short, or medium term.

The last date to submit the bids is September 30, 2024.

The bidders’ scope of work includes supplying power generated from the wind-solar hybrid power projects. Hybrid projects must comprise at least one solar and one wind power project.

The STU Interconnection Point or CTU Interconnection Point is the delivery point for the supply of power.

The expected capacity utilization factor must be 50 to 60% annually.

Bidders should be renewable power generators, developers, power traders, or consultants. They can be a single company or a consortium of companies.

Companies registered in India are eligible to bid.

Bidders should have commercially operational or under-implementation renewable energy projects with a cumulative capacity of at least 50 MW in India.

The tender has specified that payment security must be in the form of a bank guarantee or a letter of credit with a value of 45 days of average billing valid for the term of the power purchase agreement.

Gujarat International Finance Tec-City (GIFT) Power Company is a distribution licensee for the supply of electricity in the GIFT City area, which includes a Special Economic Zone (SEZ) and Domestic Tariff Area (DTA). GIFT PCL is procuring power from open access to meet the increasing demands of the licensee area and fulfill its Renewable Purchase Obligation.

The Ministry of Commerce recently said that duty benefits under Section 26 of the SEZ Act are allowed for SEZs to install, operate, and maintain renewable energy equipment like solar panels exclusively for captive use on the condition that the power generated is not wheeled out to the DTA.

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