Gujarat Urja Vikas Nigam Limited (GUVNL) has issued a request for selection (RfS) to purchase power from 500 MW of grid-connected solar photovoltaic (PV) projects.
Projects under construction, those that are not yet commissioned, or projects that are already commissioned but do not have any long-term PPA with any agency, will be eligible for this tender.
Interested bidders are expected to make an earnest money deposit of ₹400,000 (~$5,431)/MW of the capacity quoted.
The last date for the submission of bids is October 28, 2020. The minimum project capacity to be quoted is 25 MW. Bidders must also provide a performance bank guarantee (PBG) of ₹944,000 (~$12,816)/MW quoted.
The successful bidder is expected to set up solar power projects, including the transmission network up to the delivery point at their own cost. They must also acquire all necessary approvals, permits, and clearances for setting up the project.
They are expected to limit the scope of the technology used in the projects within photovoltaic technology, crystalline silicon, or thin film, among others with or without trackers installed.
To be eligible to take part in the competitive bidding process, applicants must have a minimum net worth of ₹8 million (~$108,410)/MW of the capacity quoted. The declared annual capacity utilization factor (CUF) must be at least 17%.
The commercial operation date (COD) will be certified by the Gujarat Energy Development Authority (GEDA) after the successful commissioning of the entire capacity of the project. For this, the successful bidders are expected to provide a written notice to the GUVNL at least ten days in advance.
Recently, Mercom reported that Vena Energy Renewables, Tata Power, ReNew Power, SJVN Limited, and TEQ Green Power (a subsidiary of O2 Power) were the winners in the auction for 700 MW of solar projects floated by Gujarat Urja Vikas Nigam Limited’s (GUVNL) for Dholera solar park (Phase IX). The tender was oversubscribed by 600 MW after being reissued in March.
According to Mercom India Research, GUVNL has tendered 6 GW of solar projects under Phase I to Phase XI and has auctioned about 3.5 GW under Phase I to IX.
Image credit: OhWeh / CC BY-SA
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.