The Gujarat Urja Vikas Nigam Limited (GUVNL) has tendered 700 MW of grid-connected solar photovoltaic (PV) power projects to be set up under Phase III of Raghanesda Solar Park located in the state.
The bid-submission deadline is November 15, 2018.
The GUVNL will hold a pre-bid meeting on October 17, 2018. The capacity has been tendered to fulfill the renewable purchase obligation (RPO) and to meet the future requirements of the state distribution companies (DISCOMs).
The projects will be developed under build own operate basis. The projects will be developed on three plots. While two plots have specifications for 250 MW each, the third one will have 200 MW of solar projects. The bidders can bid for the following capacities: 700 MW, 500 MW, 450 MW, 250 MW, or 200 MW. One must bid for the entire plot or a combination of two or three plots.
The bidders bidding for more than one plot can be allocated partial capacity by GUVNL depending on the selection of plots by other successful bidders based on their ranking. It would also be subject to minimum capacity allocation equivalent to the size of the plot available for allocation under bucket filling approach.
The project should be designed for delivery of energy at 220/400 kV Khimanawaas sub-station of CTU through 33/220 kV internal pooling sub-station developed by the solar park developer. The successful bidders and the solar park developer will enter into implementation and support agreements.
Successful bidders will enter 25-year power purchase agreements (PPAs) with GUVNL. The successful bidder must report about the tie-up of financing arrangements for the projects within 12 months from the date of execution of PPA. An extension for the attainment of the financial closure can be considered by GUVNL on an advance payment of extension charges that would be ₹10,000 (~$136.92) per day per MW.
Part commissioning of the project will be accepted by GUVNL, but the minimum project size must be 25 MW. In cases of early part-commissioning, GUVNL will purchase the generation till scheduled commissioning date at 75 percent of the PPA tariff. However, in case the entire capacity is commissioned prior to scheduled commissioning date, GUVNL will purchase the generation at PPA tariff.
The applicable land lease charges at the Raghanesda Solar Park has been set at ₹10,000 (~$136.92)/Hectare/Year with an increment rate of 15 percent every three years.
As reported recently by Mercom, the lowest (L1) tariff of ₹2.44 (~$0.0338)/kWh was quoted in GUVNL’s 500 MW grid-connected solar PV auction. Given the current dynamics and mood of the market, it is a smart move by GUVNL to conduct this auction.