The Gujarat Urja Vikas Nigam Limited (GUVNL) has floated a request for selection (RfS) to purchase power from 500 MW of grid-connected solar photovoltaic (PV) projects to be set up in the state in Phase XII.
Bidders must make an earnest money deposit of ₹400,000 (~$5,487)/MW. The last date for submitting online bids is February 23, 2021. Offline submissions can be made until February 25.
Successful bidders are expected to set up the solar PV power project, including the transmission network up to the delivery point. They must secure all necessary permits and clearances required for setting up the project, including connectivity and land registration.
To be eligible to participate in the competitive bidding process, applicants must have a net worth of at least ₹8 million (~$109,735)/MW of the capacity quoted.
Bidders must place bids for a minimum project capacity of 25 MW. The projects must achieve financial closure within 12 months from signing the power purchase agreement (PPA).
The project’s declared annual capacity utilization factor (CUF) must be no less than 17%. The project must be designed for power delivery at the Gujarat Energy Transmission Company Limited (GETCO). The Gujarat Energy Development Agency (GEDA) will be the nodal agency for implementing the project.
The project must be interconnected with the state and central transmission utility substations directly through a dedicated line or a pooling substation of an existing wind farm.
GUVNL said the selection of projects would be technology agnostic within PV technology. Crystalline silicon or thin-film modules with or without trackers can be used for the project. Selected bidders must adhere to the Ministry of New and Renewable Energy’s technical parameters and specifications.
According to Mercom’s India Tender Tracker, GUVNL has tendered 7.65 GW of solar projects in the state.
Mercom had reported in December 2020 that GUVNL’s Phase XI auction for 500 MW of solar projects set a new record with the lowest discovered tariff hitting ₹1.99 (~$0.0270)/kWh. This tariff was lower than SECI’s previous record low tariff of ₹2 (~$0.027)/kWh discovered in its auction for 1,070 MW GW of grid-connected solar projects (Tranche III) in Rajasthan in November.
Nithin is a staff reporter at Mercom India. Previously with Reuters News, he has covered oil, metals and agricultural commodity markets across global markets. He has also covered refinery and pipeline explosions, oil and gas leaks, Atlantic region hurricane developments, and other natural disasters. Nithin holds a Masters Degree in Applied Economics from Christ University, Bangalore and a Bachelor’s Degree in Commerce from Loyola College, Chennai. More articles from Nithin.