The Gujarat Urja Vikas Nigam Limited (GUVNL) has extended the bid submission deadline for 1,000 MW of grid-connected wind power projects to be developed in the state (Phase II-R).
The new bid submission deadline is May 4, 2019. Earlier, the last date for the submission of bids was March 30, 2019.
GUVNL had issued the Request for Selection (RfS) for the purchase of power through competitive bidding from this 1 GW wind project in March 2019. A developer could bid for the minimum capacity of 25 MW while the maximum had been set at 300 MW.
Total bids of 853.4 MW capacity were submitted to the GUVNL against the tendered capacity of 1,000 MW by eight developers. In this, Adani has bid for 250 MW, whereas ReNew power has bid for 200 MW.
GUVNL will enter into a power purchase agreement (PPA) with successful bidders for a period of 25 years. The bidders will be able to avail the fiscal incentives like accelerated depreciation, concessional customs and excise duties, tax holidays, benefits from trading of carbon credits, among others.
GUVNL may consider signing PPAs of up to 100 MW capacity with public sector units or government-controlled organizations who participated in the tender but did not become successful bidders and are willing to execute the PPA at the lowest tariff discovered in the auction. However, the criterion for a minimum capacity of 25 MW will not apply to them.
Before this extension, GUVNL also extended the bid submission deadline for 1 GW of grid-connected solar photovoltaic (PV) projects at Dholera Solar Park (Phase V) for the fourth time. The new deadline is May 4, 2019. The extension was necessitated due to poor participation from the developers.